Chapter 5 Test 'Compound Interest Calculator [with Formula] Benjamin Smith 04/24/23 9:38 PM This test: 45 point(s) possible This question: 5 point(s) possible Submit test Bank One offered a 20-year certificate of deposit (CD) at 4.89% interest compounded quarterly. On the same day on the Internet, First Bank offered a 20-year CD at 4.88% compounded monthly. Find the APY for each CD. Which bank paid a higher APY? The APY for the CD at Bank One is % (Type an integer or decimal rounded to three decimal places as needed.) The APY for the CD at First Bank is |%. (Type an integer or decimal rounded to three decimal places as needed.) Which bank paid a higher APY? O A. First Bank O B. Bank One Time Remaining: 02:20:18 Next