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Security National Bank is quoting 1-year certificates of deposit with an interest rate of 6% compounded semiannually. Joe Saver purchased a $5,700 CD. What is
Security National Bank is quoting 1-year certificates of deposit with an interest rate of 6% compounded semiannually. Joe Saver purchased a $5,700 CD.
What is the CDs effective rate (APY)? (Please use the following provided Table.) (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.) |
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