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please show work!! Your bank offers 3-year certificates of deposit with a stated rate of interest of 12% p.a, compounded quarterly. Your cousin (who works

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Your bank offers 3-year certificates of deposit with a stated rate of interest of 12% p.a, compounded quarterly. Your cousin (who works at Acme Bank and Trust, a competitor) wants to know what stated rate of interest you would require from them in order to switch your business to their bank. Acme's CD's are compounded on a monthly basis. What is the minimum stated interest rate you should ask for from Acme in order to make you indifferent to switching? (Round your answer to 2 decimal places and enter your answer as a percent, but without a percent sign. For example, enter 25.4862% as 25.49). Your bank offers 3-year certificates of deposit with a stated rate of interest of 10.66 % p.a., compounded quarterly. Your cousin (who works at Acme Bank and Trust, a competitor) wants to know what stated rate of interest you would require from them in order to switch your business to their bank. Acme's CD's are compounded on a monthly basis. What is the minimum stated interest rate you should ask for from Acme in order to make you indifferent to switching? Round your answer to 2 decimal places and enter your answer as a percent, but without a percent sign. For example, enter 25.48632% as 25.49

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