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6. You are comparing two savings accounts in which to invest your $80,000 housing savings fund. Both accounts pay a 12% (stated) interest rate but

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6. You are comparing two savings accounts in which to invest your $80,000 housing savings fund. Both accounts pay a 12% (stated) interest rate but compound interest at different time intervals. Account W: interest is compounded daily and Account Y: interest is compounded semiannual. a. Calculate the APY of Account W? b. Calculate the APY of Account Y? c. Which account would you choose? Why

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