annual rdte 6.77% You want to invest $21,000 and are looking for safe investment options. Your bank is offering you a certificate of deposit that pays a nominal rate of 6% that is compounded semiannually. What is the effective rate of return that you will earn from this investment? 5.949% 6.211% 0 6.404% 6.090% Suppose you decide to deposit $ 21,000 in a savings account that pays a nominal rate of 5%, but interest is compounded daily. Based on a 365-day year, how much would you have in the account after three months? (Hint: To calculate the number of days, divide the number of months by 12 and multiply by 365.) $21,264.27 $22,540.13 O $20,838.98 $21,051.63 412004-2016 Alights reserved La cated. All rights reserved Orade It Now Save & Continue MacBook