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April 19, 2014

April 19, 2014

Posted by **Anonymous** on Friday, October 29, 2010 at 3:42pm.

- math -
**Henry**, Saturday, October 30, 2010 at 11:53pmAPY = (1 + r)^n - 1.

A. r = APR / 365 = rate per compounding

period expressed as a decimal.

n = 365 days=the number of compounding

periods.

APY = (1 + 0.00016438)^365 - 1,

= 1.061830 - 1 = 0.061830 = 6.183%

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