Question: Help 13 The annual interest rate r, when compounded more than once a year, results in a slightly higher yearly interest rate. This is called

Help 13 The annual interest rate r, when compounded more than

Help 13

The annual interest rate r, when compounded more than once a year, results in a slightly higher yearly interest rate. This is called the annual (or effective) yield and denoted as Y. Find the annual yield as a percentage for money invested at an annual rate of 4.71% compounded monthly. The APY is % (Type an integer or decimal rounded to three decimal places as needed.)

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