0
How would you compute the annual percentage yield for a saving account that earned 56 dollar in interest on 800 dollar 0ver the past 365 days?
Wiki User
∙ 13y ago
The answer to your question can be calculated by dividing the interest earned by principal amount and multiplying it by 100 i.e.-
56/800 x 100 which comes to 7 % p.a.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What does the term annual percentage rate mean for a certificate of deposit account?
Annual percentage yield (APY) is a normalized representation of an interest rate, based on a compounding period of one year
What type of interest rate can you expect from a high yield savings account?
Interest rates vary depending on the bank the savings account is in. For a high yield savings account, interest rates can be from 0.95-3.0% annual percentage yield.
What is the true annual rate of interest charged?
The true annual rate of charged interest is called the annual percentage yield. It is the interest charged and compounded against.
How much interest is earned on the account?
A $5000 investment at an annual simple interest rate of 4.4% earned as much interest after one year as another investment in an account that earned 5.5% annual simple interest. How much was invested at 5.5%?
What interest rate would the best online savings account pay in the United States?
A 1% annual percentage yield is likely to be the best interest rate for an online savings account. Barclays, who launched an online bank for customers in the US in May of 2012, has a 1% rate.
What does the acronym APY mean?
Annual Percentage Yield. It means expresses an annual rate of interest taking into account the effect of compounding . It is always greater than or equal to the Annual Percentage Rate [APR]
What does the term annual percentage rate mean for a certificate of deposit account?
Annual percentage yield (APY) is a normalized representation of an interest rate, based on a compounding period of one year
What type of interest rate can you expect from a high yield savings account?
Interest rates vary depending on the bank the savings account is in. For a high yield savings account, interest rates can be from 0.95-3.0% annual percentage yield.
What is the true annual rate of interest charged?
The true annual rate of charged interest is called the annual percentage yield. It is the interest charged and compounded against.
What is annual interest?
Annual interest is interest that accumulates every year. This is a predetermined percentage that is added to a loan or credit card payment.
How much interest is earned on the account?
A $5000 investment at an annual simple interest rate of 4.4% earned as much interest after one year as another investment in an account that earned 5.5% annual simple interest. How much was invested at 5.5%?
The annual interest rate of Belinda's savings account is 8.6 and simple interest is calculated quarterly What is the periodic interest rate of Belinda's account?
2.15% Apex
What describes a annual percentage rate?
A measure of the cost of credit expressed as a yearly interest rate.
What is the annual compound interest rate for an investment account modeled by the function y 12 1.18t?
The annual compound interest rate is 18 percent.
What interest rate would the best online savings account pay in the United States?
A 1% annual percentage yield is likely to be the best interest rate for an online savings account. Barclays, who launched an online bank for customers in the US in May of 2012, has a 1% rate.
A higher interest rate is usually the trade-off for what?
Annual Percentage Rate
How can you find out own annual percentage yield online?
An annual percentage yield enables one to find out how much interest a set amount of money is earning in interest per year. Many banks and other financial institutions include an interest calculator on their websites.
