r = Annual interest rate n = Number of compounding periods per year When a balance earns compounded interest, the balance at the end of the total time period is greater than what the

1) APY formula calculation: - IF (t) is specified as a no. of years THEN APY = [ ( (1 + ( (r * 0.01) / (n * t))) ^ (n * t)) – 1] * 100 - IF (t) is expressed in months THEN APY = [ ( (1 + ( (r * 0.01) / (n * t /

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