A bank features a savings account that has an annual percentage rate of 5.4 % with interest compounded monthly. Malik deposits $5,500 into the account. How much money will Malik have in the account in 1 year? Answer = $ . Round answer to the nearest penny. What is the annual percentage yield (APY) for the savings account? APY=APY= %. Round to the nearest hundredth of a percent.
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