Question: In this section, both APY and APR were discussed. You are having a discussion with a friend about the return on an account with a

In this section, both APY and APR were discussed. You are having a discussion with a friend about the return on an account with a $5,000 balance and an advertised APY of 1.5%. Your friend suggests that it would be better to consider the APR. Is your friend correct? Explain your reasoning.

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