Two banks are offering different investment opportunities. Bank A offers an account that pays 5.3879% interest compounded monthly. Bank B offers an account that pays 5.4074% interest compounded quarterly. Determine the APY for each to decide which bank is offering a better investment account. Round your answers to 4 decimal places. Enter your answers with 4 decimal places (using zeros if needed) and don't forget to include a percent sign, %, in your answers. APY for Bank A = APY for Bank B =
Two banks are offering different investment opportunities. Bank A offers an account that pays 5.3879% interest compounded monthly. Bank B offers an account that pays 5.4074% interest compounded quarterly. Determine the APY for each to decide which bank is offering a better investment account. Round your answers to 4 decimal places. Enter your answers with 4 decimal places (using zeros if needed) and don't forget to include a percent sign, %, in your answers. APY for Bank A = APY for Bank B =
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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Two banks are offering different investment opportunities. Bank A offers an account that pays 5.3879% interest compounded monthly. Bank B offers an account that pays 5.4074% interest compounded quarterly. Determine the APY for each to decide which bank is offering a better investment account.
Round your answers to 4 decimal places. Enter your answers with 4 decimal places (using zeros if needed) and don't forget to include a percent sign, %, in your answers.
APY for Bank A =
APY for Bank B =
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