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14. [-73 Points] DETAILS JMODD8 5.2.042. MY NOTES PRACTICE ANOTHER A certificate of deposit (CD) is an agreement between a bank and a saver in
14. [-73 Points] DETAILS JMODD8 5.2.042. MY NOTES PRACTICE ANOTHER A certificate of deposit (CD) is an agreement between a bank and a saver in which the bank guarantees an interest rate and the saver commits to leaving his or her deposit in the account for an agreed-upon period of time. National Trust Savings offers five-year CDs at 8.22% compounded daily, and Bank of the Future offers five-year CDs at 8.25% compounded annually. Compute the annual yield for each institution. (Round your answers to two decimal places.) NTS % BF % Determine which is more advantageous for the consumer. ---Select--- O has the better offer. Need Help? Read It Watch It
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