Determine the annual percentage yield for bank?

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Question: Bank A advertises a money market account that pays 3.7% compounded quarterly. Bank B advertises a money market account that pays 3.6% compounded daily.

?a) Determine the annual percentage yield for bank? A's money market account.

?b) Determine the annual percentage yield for bank? B's money market account.

?c) Assuming all other factors are? equal, which? bank's money market account would be the better? investment?

Reference no: EM133559961

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