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revAdmin (Created page with "Bank P offers a 3-year certificate of deposit that pays an annual effective interest rate of 4%. In addition, a bonus of 2% of the initial investment is paid at the end of the 3-year period. Bank Q offers a 3-year certificate of deposit without any bonus. Calculate the annual effective interest rate that Bank Q would have to offer to produce the same annual yield as the certificate from Bank P. <ul class="mw-excansopts"><li>4.3%</li><li>4.4%</li><li>4.5%</li><li>4.6%</...")Nov 17'23 at 22:50+522