Bank One offered a 20-year certificate of deposit (CD) at 4.44% interest compounded quarterly. On...
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Finance
Bank One offered a 20-year certificate of deposit (CD) at 4.44% interest compounded quarterly. On the same day on the Internet, First Bank offered a 20-year CD at 4.43% compounded monthly. Find the APY for each CD. Which bank paid a higher APY?
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