You are looking for a safe place to put $10,000 for one year. You go online...

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You are looking for a safe place to put $10,000 for one year. You go online and find that three banks are offering the following rates for CDs. Find the effective rate for each to determine which would earn you the most interest at the end of one year. Bank A 2.45% continuously 2.49% quarterly 2.49 % monthly Round your answers to three decimal places. Bank A offers an effective annual rate of Bank B offers an effective annual rate of i Bank C offers an effective annual rate of Bank Bank B Bank C offers the most interest at the end of a year. %. %. %. You are looking for a safe place to put $10,000 for one year. You go online and find that three banks are offering the following rates for CDs. Find the effective rate for each to determine which would earn you the most interest at the end of one year. Bank A 2.45% continuously 2.49% quarterly 2.49 % monthly Round your answers to three decimal places. Bank A offers an effective annual rate of Bank B offers an effective annual rate of i Bank C offers an effective annual rate of Bank Bank B Bank C offers the most interest at the end of a year. %. %. %.

Answer rating: 100% (QA)

Calculating the effective annual interest rates Bank A Stated rat... View the full answer