If the apr of a savings account is 48 and interest is


If the APR of a savings account is 4.8% and interest is compounded monthly, what is the approximate APY of the account?

A. 10.49%
B. 4.91%
C. 1.05%
D. 4%

 

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Finance Basics: If the apr of a savings account is 48 and interest is
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