A bank is offering to pay compound interest of 5 per year, Finance Basics

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A bank is offering to pay compound interest of 5 per year

Question: A bank is offering to pay compound interest of 5% per year on new CD accounts. An e-bank is offering 5.5% per simple interest on a 5-year Savings account. Which bank do you select to deposit your money? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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