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a Search 5. [0/1.5 Points] DETAILS PREVIOUS ANSWERS MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER When you buy a certificate of deposit (CD), you are
a Search 5. [0/1.5 Points] DETAILS PREVIOUS ANSWERS MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER When you buy a certificate of deposit (CD), you are investing your money in an account that cams interest for a specific period of time. A CD matures when it has been invested for the required amount of time Assume that you have $2700 to invest in a 2-year with an APR of 3.3 compounded daily. When the matures, how much interest will you have camed? Round your result to the nearest cent. $ X Show My Work Submit Answer 6. [-/4.7 Points] DETAILS MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER You are comparing two banks. One bank is online and offers a savings account interest rate of 1.70% compounded quarterly. One bank is in your hometown and offers a savings account interest rate of 1.7% compounded daily. You have $5500 to keep in a savings account for years, so you need to decide which bank would pay more interest The online bank has an APY of what percentage? Round your percentage to three decimal places) The hometown bank has an APY of what percentage? Round your percentage to three decimal places) SM
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