Bianca's bank offers a savings account with a 2.1% APR, compounded monthly. What is the actual annual percentage yield on this account?

A. 2.19%

B. 2.17%

C. 2.12%

D. 2.15%

Bianca's bank offers a savings account with a 2.1% APR, compounded monthly. The the actual annual percentage yield on this account can be calculated using i = (1 + r/m) ^m, where i is the actual APR, r is the nominal interest rate and m the compounding period in a year. APR is equal to 2.12%