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Flaco69 Flaco69
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A year ago
Bank A offers an account with a nominal yield of 2 percent, and it compounds interest monthly. Bank B offers an account with nominal yield of 2 percent, and it compounds interest daily. Which one has the higher APY?

▸ Bank A has the higher APY.

▸ Bank B has the higher APY.

▸ They both have the same APY.

▸ This cannot be solved from the given information.
Textbook 
Personal Finance

Personal Finance


Edition: 2nd
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doquangnhatdoquangnhat
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A year ago
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