Hey everyone, So, I am trying to better understand APY and APR. I can easily...
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Hey everyone, So, I am trying to better understand APY and APR. I can easily solve equations related to APY and APR. However, I noticed I am having a hard time explaining the below in words. I was wondering if someone could please help me.
Understanding Annual Percentage Yield.
a.) Explain why APR and APY are the same with annual compounding. b.)explain why APR and APY are different with daily compounding. c.) Does APY depend on starting principal, P? Why or why not? d.) How does APY depend on the number of compounding's during a year, n? Explain.
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