Beach Bank is advertising a special 1.45% APR (Annual Percentage Rate) for long-term CDs (Certificate of Deposit). Danny takes out a 1-year CD for $35,000. The interest is compounded daily. Find the annual percentage yield for Danny's account to the nearest hundredth of a percent.

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04-10-2022
Mathematics

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Beach Bank is advertising a special 1.45% APR (Annual Percentage Rate) for long-term CDs (Certificate of Deposit). Danny takes out a 1-year CD for $35,000. The interest is compounded daily. Find the annual percentage yield for Danny's account to the nearest hundredth of a percent.

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