Question
Calculate the annual percentage yield (APY) using the formula below if: 1) interest is $300; 2) principal is $1,000; and 3) days in term is
Calculate the annual percentage yield (APY) using the formula below if: 1) interest is $300; 2) principal is $1,000; and 3) days in term is 30;
APY = 100[(1 + Interest/Principal)365/days in term - 1]
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Investment Analysis and Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown
10th Edition
538482109, 1133711774, 538482389, 9780538482103, 9781133711773, 978-0538482387
