Bank One offered a 19-year certificate of deposit (CD) at 4.14% interest compounded quarterly. On the same day on the Internet, First Bank offered a 19-year CD at 4.13% 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? OA First Bank OB Bank One
Bank One offered a 19-year certificate of deposit (CD) at 4.14% interest compounded quarterly. On the same day on the Internet, First Bank offered a 19-year CD at 4.13% 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? OA First Bank OB Bank One
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Subject: finance
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Bank One offered a 19-year certificate of deposit (CD) at 4.14% interest compounded quarterly. On the same day on the Internet, First Bank offered a 19-year CD at 4.13% 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?
OA. First Bank
OB, Bank One
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