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Suppose you saw an advertisement in the newspaper for a financial planner who was recommending a certificate of deposit that paid5.5% interest compounded quarterly. In
Suppose you saw an advertisement in the newspaper for a financial planner who was recommending a certificate of deposit that paid5.5% interest compounded quarterly. In the fine print at the bottom of the advertisement, it stated that the APY on the CD was 5.61%Was this advertisement accurate?
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