Answer:
The answer is 6.92%
Explanation:
From the question given let us recall the values.
The APR of as savings account is = 6.8% and the interest is compounded semiannually.
Then,
APR = (1 + 0.68/12)¹² - 1
APR = (1.68/12)¹² - 1 =0.0692
Therefore the approximate apy of the account is,
APR = 6.92%
