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Find the annual percentage yield ( APY ) in the following situation. A bank offers an APR of 4 . 4 7 % compounded monthly.

Find the annual percentage yield (APY) in the following situation.
A bank offers an APR of 4.47% compounded monthly.
The annual percentage yield is %
(Do not round until the final answer. Then round to two decimal places as needed.)
Find the annual percentage yield ( APY ) in the

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