One bank advertises a nominal rate of 5.82% compounded quarterly. A second bank advertises a nominal rate of 5.8% compounded weekly. What are the effective yields? (Round your answers to two decimal places.) first bank % second bank %

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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ISBN:9780079039897
Author:Carter
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Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
Problem 67SGR
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One bank advertises a nominal rate of 5.82% compounded quarterly. A second bank advertises a nominal rate of 5.8% compounded weekly. What are the effective yields? (Round your answers to two decimal places.)

first bank   %
second bank  

%

 

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