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14. Which account is a better investment? (Assume 360 days in a year) (3 marks) Account 1 Account 2 6.35% compounded daily 6.5% compounded monthly

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14. Which account is a better investment? (Assume 360 days in a year) (3 marks) Account 1 Account 2 6.35% compounded daily 6.5% compounded monthly 15. A savings account has a rate of 7%. Find the effective annual yield, rounded to the nearest tenth of a percent if the interest is compound: (1 mark each) a) quarterly b) 5000 times in a year

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