What is the cds effective rate

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Reference no: EM13810649

Security National Bank is quoting 1-year certificates of deposit with an interest rate of 6% compounded semi annually. Joe Saver purchased a $5,700 CD.

What is the CD’s effective rate (APY)? (Please use the following provided Table.) (Do not round intermediate calculations. Round your answer to the nearest hundredth percent.)

Reference no: EM13810649

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What is the cds effective rate : Security National Bank is quoting 1-year certificates of deposit with an interest rate of 6% compounded semi annually. Joe Saver purchased a $5,700 CD. What is the CD’s effective rate (APY)?

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