Determine annual percentage yield for bank as money market

Reference no: EM133665257

Problem: Bank A advertises a money market account that pays 3.9 %compounded quarterly. Bank B advertises a money market account that pays 3.8 % compounded daily. Determine the annual percentage yield for bank A's money market account. Determine the annual percentage yield for bank B's money market account. Assuming all other factors are equal, which bank's money market account would be the better investment?

Reference no: EM133665257

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