A bank advertises that currently a CD pays 6 % APR compounded daily (use 365 days a year). What is the effective yield on this CD, to the nearest hundredth?

Name: A bank advertises that currently a CD pays 6 % APR compounded daily (use 365 days a year). What is the effective yield on this CD, to the nearest hundredth?
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A bank advertises that currently a CD pays  6 %  APR compounded daily (use 365 days a year). What is the effective yield on this CD, to the nearest hundredth?

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The Answer of A bank advertises that currently a CD pays  6 %  APR compounded daily (use 365 days a year). What is the effective yield on this CD, to the nearest hundredth?

A Bank Advertises That Currently a CD Pays 6