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Help 20

NotSoSmart  Oct 2, 2018
 #1
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+2

Not totally sure about this, NSS...but here is my  best shot....

 

APY  = (1 + r/n)^n - 1

 

APY for monthly compounding =  (1 + .055/12)^12  - 1  ≈  .05640  ≈  5.640%

 

APY  for quarterly compoundng   = ( 1 + .055/4)^4  - 1  ≈  .05614 ≈ 5.614%

 

 

[5.640 - 5.614 ] ≈  .026%

 

 

 

cool cool cool

CPhill  Oct 2, 2018

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