Therese Made an Investment of $1,000 into an Account That

Multiple Choice

Therese made an investment of $1,000 into an account that pays a 10% annual interest rate which is compounded quarterly.At the end of the 12-month period,Therese earned $103.81 in interest on her $1,000 investment.She calculates her annual percentage yield (APY) to be 10.38%.This is an example of how interest is:

A) Compounded
B) The same as the annual percentage rate (APR)
C) Effected by the annual percentage yield (APY)
D) Part of the Truth in Savings Act