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You are shopping around for different bank accounts and have found several different bankin institutions...

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You are shopping around for different bank accounts and have found several different bankin institutions offering different types of interest Calculate the effective rate of return also known as the annual percentage yield APY of each bank account Hint E 1 7 1 Enter your answers as a percentage rounded to 2 decimal places a Wesbanco offers an account 5 93 interest compounded daily APY Number b PNC offers an account with 5 97 interest compounded weekly APY Number c United Bank offers an account with 6 01 interest compounded monthly APY Number d BB T offers an account with 6 09 interest compounded quarterly APY Number

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Transcribed Image Text

You are shopping around for different bank accounts and have found several different bankin institutions offering different types of interest Calculate the effective rate of return also known as the annual percentage yield APY of each bank account Hint E 1 7 1 Enter your answers as a percentage rounded to 2 decimal places a Wesbanco offers an account 5 93 interest compounded daily APY Number b PNC offers an account with 5 97 interest compounded weekly APY Number c United Bank offers an account with 6 01 interest compounded monthly APY Number d BB T offers an account with 6 09 interest compounded quarterly APY Number

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