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Bank one offered a 12-year certificate of deposit (CD) at 4.69% interest compounded quarterly on the same day on the Internet, First Bank offered a

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Bank one offered a 12-year certificate of deposit (CD) at 4.69% interest compounded quarterly on the same day on the Internet, First Bank offered a 12-year CD at 4.68% compounded monthly. Find the APY for each CD. Which bank paid a higher APY? The APY for the CD at Bank one is %

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