as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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better rate for investment between cd or savings
user
excel has two functions you can use: your question has the cd with a apr and the savings account that mentions both apr and apy. so convert them both to apy to compare them. the savings account (2.27 apy) will return more money based on the numbers in your question (2.27% vs 1.56%) the previous part was the math part of the answer. the following takes into other considerations. for this case the savings account will return a larger amount of money if the conditions don't change. the cd rate is guaranteed, but the savings account could change every business day. the savings rate could go up, or down. if you expect the savings account rate to rain higher than the cd you might not want to lock into the cd. if you expect the savings rate will drop then get the cd. of course  there are penalties if you cash in the cd early.
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