Introduction
Apr 09, 2010 · Northwest Bank pays a quoted annual (nominal) interest rate of 4.75%. However, it pays interest (compouned) daily using a 365-day year. What is the effective annual rate of return (APY)? A. 4.75% B. 4.86% C. 5.02% D. 3.61% . 14) You have $10,000 to invest. You do not want to take any risk, so you will put the funds in a savings account at the ... ................
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