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OopsSorry1:
if the APR of a savings account is 7.2% and interest is compounded monthly, what is the approximate APY of the account
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luhivqqcherry:
APY=4.91% Explanation APY SHOWS EFFECT OF COMPOUNDING APR=4.8%
OopsSorry1:
the choices are a: 1.07%, b: 7.44%, c: 10.74%, and d: 6%
luhivqqcherry:
b
OopsSorry1:
thank you
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