Respuesta :

APY = (1 + i/n)^n - 1

where i is the interest rate (4.8%) written as 0.048

n is the number of periods it is paid (12)


So we get (1 + 0.048/12)^12 - 1


= (1 + 0.004)^12 -1


= (1.004^12) - 1


= 1.04907 - 1


= 0.04907


So the answer is B. 4.91%

Answer:

4.91 apex

Step-by-step explanation:

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