Simple and Compound Interest

Bus Econ 5.1.69 In 2014, Bank A paid 4% interest, compounded daily, on a 3-year CD, while the Bank B paid 4% compounded quarterly. a. What are the effective rates for the two CDs? Use a 365-day year. b. Suppose $4000 was invested in each of these accounts. Find the compound amount after three,years for each account a.The effective rate for Bank A is96. (Type an integer or decimal rounded to three decimal places as needed.) Enter your answer in the answer box and then click Check Answer. parts remaining Clear All