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Annual percentage yield (APY) is calculated by: A. dividing the amount of the deposit by the compound interest rate. B. Multiplying the amount of the deposit by the nominal interest rate. C. dividing the amount of the deposit by the nominal interest rate. D. adding the value of the deposit to the nominal interest rate.

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Answer: Multiplying the amount of the deposit by the nominal interest rate

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Answer:

B. Multiplying the amount of the deposit by the nominal interest rate.

Explanation:

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