Credit

Question

0

1383

2

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

admin · Answer 1 · 2012-03-17T10:40:24

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

126.7% APY

henderson92 · Answer 2 · 2012-08-23T09:35:18

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