Determine the effective annual yield for each investment. Then select the better investment. 2.98% compounded semiannually; 2.97% compounded monthly.
A. The first investment, 2.98 % compounded semiannually, is the better investment because the effective annual yield for the first investment is____% and the effective annual yield for a 2.97 % compounded monthly investment is_%.
B. The second investment, 2.97 % compounded monthly, is the better investment because the effective annual yield for the first investment is% and the effective annual yield for a 2.97 % compounded monthly investment is_%.

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05-08-2024
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Determine the effective annual yield for each investment. Then select the better investment. 2.98% compounded semiannually; 2.97% compounded monthly.
A. The first investment, 2.98 % compounded semiannually, is the better investment because the effective annual yield for the first investment is____% and the effective annual yield for a 2.97 % compounded monthly investment is_%.
B. The second investment, 2.97 % compounded monthly, is the better investment because the effective annual yield for the first investment is% and the effective annual yield for a 2.97 % compounded monthly investment is_%.

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