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Edith opened a credit card at a department store with an APR of 23.73% compounded daily. What is the APY on this credit card?
Guest Mar 16, 2012
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 #1
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[input](1+0.2373/365)^365[/input]

126.7% APY
admin  Mar 17, 2012
 #2
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admin:

[input](1+0.2373/365)^365[/input]

126.7% APY



How do we calculate the same thing but compounded continuously?

Thanks in advance,

J Henderson
henderson92  Aug 23, 2012

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