What is the APY for 9.7% compounded annually?
A) 9.5%
B) 9.7%
C) 10.2%
D) 10.9%

Name: What is the APY for 9.7% compounded annually? A) 9.5% B) 9.7% C) 10.2% D) 10.9%
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Question

Quizplus · Accepted Answer

APY stands for Annual Percentage Yield, which is the total amount of interest earned on an account in one year, including compound interest. Therefore, the APY for 9.7% compounded annually is simply 9.7%.

What Is the APY for 9.7% Compounded Annually