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Determine the effective annual yield for each investment. Then select the better investment. 3 . 8 9 % compounded semiannually; 3 . 8 8 %
Determine the effective annual yield for each investment. Then select the better investment.
compounded semiannually; compounded monthly
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Round to the nearest hundredth as needed.
A The first investment, compounded semiannually, is the better investment because the effective annual yield for the first investment is and the effective annual yield for a compounded monthlyinvestment is
B The second investment, compounded monthly, is the better investment because the effective annual yield for the first investment is and the effective annual yield for a compounded monthlyinvestment is
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