Federal Savings Bank Is Offering a 6-Month CD (Certificate of Deposit)

question 8

Multiple Choice

Federal Savings Bank is offering a 6-month CD (certificate of deposit) with an annual percentage rate of 4.5% compounded daily. What is the equivalent annual percentage rate compounded annually or APY (annual percentage yield) on the CD? Give your answer as a percentage rounded to the nearest tenth of a percent.

• A) 4.7%
• B) 4.8%
• C) 4.9%
• D) 5.0%
• E) None of the above.

Understand the concept and benefits of scenario planning.

Differentiate between qualitative and quantitative forecasting methods.

Comprehend the principles and applications of zero-based and contingency budgeting.

Identify the strategic importance of planning in corporate acquisitions and expansions.

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Definitions:

STI Instruction

An instruction used in some programmable logic controllers (PLCs) to specify actions that occur at timed intervals, typically for periodic tasks.

Starter Auxiliary Contact

An auxiliary switch in a motor starter that provides a secondary set of contacts for controlling additional functions or status indication.

Programmed Contact

A virtual representation of a physical contact in a PLC program, which can be turned on or off based on program logic.

JMP Instruction

A command used in computer programming to cause the execution flow to jump to a different part of the program or subroutine.