Isabella decides to deposit ($ 5,500) in a CD but needs to choose between banks that offer
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Isabella decides to deposit \(\$ 5,500\) in a CD but needs to choose between banks that offer CDs. She identifies four banks and finds out the terms of their CDs. Her findings are in the table below.
Which bank has the best yield?
Transcribed Image Text:
Bank Interest Rate Smith Bank 3.08% compounded quarterly Park Bank 3.11% compounded annually Town Bank 3.09% compounded daily Community Bank 3.10% compounded monthly
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