The Flagstar bank isn Michigan offered a 5 year certificate of deposit (CD) at 4.38% interest compounded
Question:
The Flagstar bank isn Michigan offered a 5 year certificate of deposit (CD) at 4.38% interest compounded quarterly.* On the same day on the Internet, Principle Bank offered a 5 year CD at 4.37% interest compounded monthly. Find the APY (effective rate) for each CD. Which bank pays a higher APY?
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Flagstar APY 1 rmm 1 1 0043844 ...View the full answer
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Related Book For 
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
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