credit card yield
Theoretical Yield and Percent Yield from Thinkwell Chemistry
Very Difficult Math problem, can anyone do it?
A credit card charges 14% annual interest compounded monthly. What is APY (Annual percentage yield).
Show your work.
… 1 + r = ( 1 + .14/12)^(12)
or r = -1 + ( 1 + .14/12)^(12)
or r = .149342 = 14.9342%