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What is the apy for the investment

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Reference no: EM132715011

Question: Suppose that a loan has a 24% APR and the interest will be compounded monthly. What is the APY for the investment? The answer is supposed to be 26.82%. Can someone explain how to get this answer in detail? The response must be typed, double spaced, times new roman, font size 12 and must follow APA format.

Reference no: EM132715011

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