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Mathematics 6 Online
OpenStudy (anonymous):

The APR of Vinny's savings account is 3.5%, but interest is compounded only once a year. What is the APY of Vinny's savings account? A. Greater than 3.5% B. Greater than 1% but less than 3.5% C. 1% D. 3.5%

OpenStudy (anonymous):

@perl

OpenStudy (perl):

i think they are the same

OpenStudy (perl):

APR = APY if you only compound once a year

OpenStudy (perl):

here is a formula you can use

OpenStudy (anonymous):

ok thanks @perl

OpenStudy (perl):

|dw:1414766624585:dw|

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