Southern Pacific Bank offered a 1-year CD that paid 4.8% compounded daily and Washington Savings Bank offered
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Southern Pacific Bank offered a 1-year CD that paid 4.8% compounded daily and Washington Savings Bank offered one that paid 4.85% compounded quarterly. Find the APY (expressed as a percentage, correct to three decimal places) for each CD. Which has the higher return?
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Related Book For
Finite Mathematics For Business Economics Life Sciences And Social Sciences
ISBN: 9780134862620
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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