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The effective rate (APY) isThe nominal rateThe stated rateThe true .pdf

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The effective rate (APY) is:The nominal rateThe stated rateThe true semiannual rateThe true annual rateNone of these Solution Annual percentage yield (APY) is a normalized representation of an interest rate, based on a compounding period of one year so it is based on one year. so answer will be The true annual rate.

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The effective rate (APY) is:The nominal rateThe stated rateThe true semiannual rateThe true annual rateNone of these Solution Annual percentage yield (APY) is a normalized representation of an interest rate, based on a compounding period of one year so it is based on one year. so answer will be The true annual rate

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