Verifying APY Suppose you saw an advertisement in the
Chapter 11, Problem 11.1.166(choose chapter or problem)
Verifying APY Suppose you saw an advertisement in the newspaper for a financial planner who was recommending a certificate of deposit that paid 4.5% interest compounded quarterly. In the fine print at the bottom of the advertisement, it stated that the APY on the CD was 4.58%. Was this advertisement accurate? Explain.
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