Business, 27.11.2020 05:30 gbprulesmile

Bank One offered 20-year certificate of deposit (CD) at 4.85% interest compounded quarterly. On the same day on the Internet, First Bank offered 20-year CD at 4.84% compounded monthly. Find the APY for each CD. Which bank paid a higher APY?

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Bank One offered 20-year certificate of deposit (CD) at 4.85% interest compounded quarterly. On the...

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