Summit Credit Union advertises a money market account that pays 0.750% compounded daily. ESL Credit Union advertises a money market account that pays 0.749% compounded semiannually.

a) Determine the annual percentage yield for the Summit Credit Union money market account.

b) Determine the annual percentage yield for the ESL Credit Union money market account.

c) Assuming all other factors are equal, which credit union’s money market would be the better investment?

In Exercise, if necessary, round all dollar figures to the nearest cent and round percents to the nearest hundredth of a percent.