Thursday
March 23, 2017

Post a New Question

Posted by on Tuesday, July 2, 2013 at 10:18pm.

What is the annual percentage yield of a $10,000 investment for 1 year at 12% interest compounded monthly? (Round APY to the nearest hundredth.)

  • Business Math - , Tuesday, July 2, 2013 at 11:03pm

    amount = 10000(1 + .12/12)^12 = 11268.25

    so interest earned = 1268.25
    rate of return = 1268.25/10000 = .1268 or appr 12.68%

Answer This Question

First Name:
School Subject:
Answer:

Related Questions

More Related Questions

Post a New Question