You deposit $4,000 in a savings account with a 5% annual interest rate, compounded monthly. What is the APY?(1 point)
Responses
5.12%
5.12 percent
5.25%
5.25 percent
5.5%
5.5 percent
5%
Responses
5.12%
5.12 percent
5.25%
5.25 percent
5.5%
5.5 percent
5%