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Your bank offers 3-year certificates of deposit with a stated rate of interest of 17.70 % pa, compounded quarterly. Your cousin (who works at Acme

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Your bank offers 3-year certificates of deposit with a stated rate of interest of 17.70 % pa, 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 A switching? cme in order to make you indifferent to Round your answer to 2 decimai 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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