Question

1. Research the highest interest rate (APY—annual percent yield) for 2-year and 5-year CDs. Document the company's name, interest rate, and minimum investment. The minimum investment must be less than or equal to $5,000.

Answer 1

This all is confidential

Answer 2

i tried but couldn't find

Answer 3

the only bank that does 2-year and 5-year CDs that does not require a minimum deposit of $25,000.00 is Ally Bank. Ally Bank’s interest rate for a 2-year CD is 1.050% and for a 5-year CD it is 1.600%. The minimum investment is $0.00!

Answer 4

2. Create the functions that represent the 2-year and 5-year CDs with your $5,000 investment. Use these functions to determine the amount you will be paid when the CD matures (the length of time for the specific CD). Show your work.