Bank A offers a 2 year certificate of deposit (CD) that pays 10% compounded annually. Bank B offers a 2 year CD that is compounded semi-annually. The CDs have identical risk. What is the stated, or no
Question:
Bank A offers a 2 year certificate of deposit (CD) that pays 10% compounded annually. Bank B offers a 2 year CD that is compounded semi-annually. The CDs have identical risk. What is the stated, or nominal, rate that Bank B would have to offer to make you indifferent between the two investments?
a. 9.83%
b. 9.76%
c. 9.93%
d. 9.67%
e. 9.87%
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Laura April 8, 2023 в 00:48The correct answer is D. Deduct From BANK Balance. When a bank inadvertently charges your account for someone else's fees, it creates an error in the bank's records. To reconcile the bank statement, you need to adjust your own records to match the bank's corrected balance. Since the bank mistakenly deducted money from your account, you need to add it back in to correct your balance. Therefore, you need to deduct the erroneous charge from the bank balance in your records (option D).
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