Friday, July 22, 2022

Pop quiz answer: $10/day in yields

ANSWER:

This pop quiz question is about conversion of units.

1. 16.73 APY * x $ = 10 $/day
2. 10 $/day = 3650 $/yr, so:
3. 16.73 APY * x $ = 3650 $/yr
4. 16.73 APY = 0.1673 /yr

We need to get to $ so:

5. x $ = 3650 $/yr / 0.1673/yr cancels out /yr, leaving:

$21817.10 to yield $10/day.

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