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Bank One offered a 14-year certificate of deposit (CD) at 4.29% interest compounded quarterly. On the same day on the Internet, First Bank offered a
Bank One offered a 14-year certificate of deposit (CD) at 4.29% interest compounded quarterly. On the same day on the Internet, First Bank offered a 14-year CD at 4.28% compounded monthly. Find the APY for each CD. Which bank paid a higher APY? The APY for the CD at Bank One is %. (Type an integer or decimal rounded to three decimal places as needed.)
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