Answer:
1.76%
Explanation:
The effective yield of interest rate r compounded n times per year is ...
y = (1 +r/n)^n -1
Your CD has a yield of ...
y = (1 +0.0175/12)^12 -1 ≈ 0.017641 ≈ 1.76%
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The percentage yield is independent of the amount invested, unless that amount is so small that a fraction of a cent in interest makes a difference in the calculated yield.
