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Find the annual percentage yield (APY) in the following situation. A bank offers an APR of 4.14% compounded monthly. The annual percentage yield is nothing

Find the annual percentage yield (APY) in the following situation.

A bank offers an APR of

4.14%

compounded monthly.

The annual percentage yield is

nothing %.

(Do not round until the final answer. Then round to two decimal places as needed.)

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