You receive an offer in writing stating that if you invest $100,000 in an account...
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You receive an offer in writing stating that if you invest $100,000 in an account within the next 2 weeks ("the start"), you will be rewarded with a $500 cash payment added to this account after 120 days. From the start, the account is guaranteed an APR of 2.15% for the term of one year. What is the effective overall APR for this one-year proposal (%) that accounts for the $500 reward (numerical answer to the nearest 100ths place)? You receive an offer in writing stating that if you invest $100,000 in an account within the next 2 weeks ("the start"), you will be rewarded with a $500 cash payment added to this account after 120 days. From the start, the account is guaranteed an APR of 2.15% for the term of one year. What is the effective overall APR for this one-year proposal (%) that accounts for the $500 reward (numerical answer to the nearest 100ths place)
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