A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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One bank advertises a nominal rate of 5.92% compounded semiannually. A second bank advertises a nominal rate of 5.87% compounded weekly. What are the effective yields? (Round your answers to two decimal places.)
first bank
%
second bank
%
In which bank would you deposit your money?
first bank
O second bank
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Transcribed Image Text:One bank advertises a nominal rate of 5.92% compounded semiannually. A second bank advertises a nominal rate of 5.87% compounded weekly. What are the effective yields? (Round your answers to two decimal places.) first bank % second bank % In which bank would you deposit your money? first bank O second bank
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