Finding the Effective Annual Yield in a Savings Account

Last updated: 4/24/2023

Finding the Effective Annual Yield in a Savings Account Suppose a savings and loan pays a nominal rate of 2 on savings deposits Find the effective annual yield if interest is com pounded as stated in Exercises 43 49 Give answers to the nearest thousandth of a percent 43 annually 2 000 44 semiannually 2 010 45 quarterly 2 015 46 monthly 2018 47 daily 2 020 48 1000 times per year 2020 49 10 000 times per year 2 020