The annual percentage yield (APY) of an investment account is a representation of the actual interest rate
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The annual percentage yield (APY) of an investment account is a representation of the actual interest rate earned on a compounding account. It is based on a compounding period of one year. Show that the APY of an account that compounds monthly can be found with the formula APY
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= (1 + r 12 (2) 19 12 - 1.
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