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A fifteen (15) year $8000 CD through Bank X pays 4.96% interest compounded weekly. A fifteen (15) year CD that pays 5% interest compounded

A fifteen (15) year $8000 CD through Bank X pays 4.96% interest compounded weekly. A fifteen (15) year CD that pays 5% interest compounded annually is available at Bank Y. Explain which bank maximizes your investment.

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