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2. Two banks offer the following interest rates on your deposit: Bank A:9% interest compounded quarterly Bank B:8.5% interest compounded continuously Which of the following

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2. Two banks offer the following interest rates on your deposit: Bank A:9% interest compounded quarterly Bank B:8.5% interest compounded continuously Which of the following statements is not true? (a) The annual percentage yield (APY) for Bank A is 9.30%. (b) The effective annual interest rate for Bank B is 8.87%. (c) Bank A offers a better deal. (d) The annual percentage rate (APR) for Bank B is 8.5%

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