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Bank X offers one-year CDs that yield 5.4% APR, compounded monthly. Bank Y offers one-year CDs that yield 5.4% APY. Both banks are FDIC-insured. Which

Bank X offers one-year CDs that yield 5.4% APR, compounded monthly. Bank Y offers one-year CDs that yield 5.4% APY. Both banks are FDIC-insured. Which bank (X or Y) should you choose to buy one-year CDs? Why? Show work

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