9 ms·
You don't add percentages, you multiply them. So 1.7 x 1.7 = 2.89% annualized
by unnouinceput 3y ago
You don't add percentages, you multiply them. So 1.7 x 1.7 = 2.89% annualized
- medvezhenok 3y agoThat's not the proper way to multiply. If you mean to use compounding interest, the proper rate is 1.017 * 1.017 = 1.034289 = 3.428% annualized. I rounded it to 3.4% for simplicity.