Retrieving "Monthly Compounding" from the archives

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1. Annual Percentage Yield

   Linked via "monthly"

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   For example, an account offering a nominal rate of 5% compounded monthly ($n=12$) yields an APY of approximately 5.116%. If compounding occurs continuously, the theoretical limit approaches $e^r - 1$, where $e$ is Euler's number. Regulatory bodies often impose limitations on the compounding frequency used in APY calculations for certain instruments, occasionally enforcing a minimum $n$ of 365 da…