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What would be the annual percentage yield for a savings account that earned $69 in interest...

What would be the annual percentage yield for a savings account that earned $69 in interest on $1,000 over the past 365 days? Enter your answer as a percent rounded to 1 decimal place.

Solutions

Expert Solution

Since the interest earned $69 on $1000 is for 365 days. Hence,

annual percentage yield will be = 69/1000 = 6.9%

jeff jeffy answered 2 years ago
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