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Determine the effective annual yield for each investment. Then select the better investment. Assume 360 days in a year. 11% compounded monthly: 11.25% compounded annually
Determine the effective annual yield for each investment. Then select the better investment. Assume 360 days in a year. 11% compounded monthly: 11.25% compounded annually %. The effective annual yield for a 11% compounded monthly investment is (Round to two decimal places as needed.) Determine the effective annual yield for each investment. Then select the better investment. Assume 360 days in a year. 3% compounded semiannually; 2.9% compounded daily %. The effective annual yield for a 3% compounded semiannually investment is (Round to two decimal places as needed.) At the time of her grandson's birth, a grandmother deposits $3000 in an account that pays 6.5% compounded monthly. What will be the value of the account a child's twenty-first birthday, assuming that no other deposits or withdrawals are made during this period? The value of the account will be $ (Round to the nearest dollar as needed.) You deposit $2000 in an account that pays 7% interest compounded semiannually. After 3 years, the interest rate is increased to 7.48% compounded quarterly. What will be the value of the account after a total of 6 years? The value of the account will be $ (Round to the nearest dollar as needed.) In 1626, an explorer convinced a group of indigenous peoples to sell him an island for $29. If the indigenous peoples had put the $29 into a bank account how much would the investment be worth in the year 2004 if the interest were compounded a. quarterly? b. continuously? a. How much would the investment be worth if the money were compounded quarterly? OA $292,319,442,619,951 OB. $270,057,980,003,062 $ 270,05,980.005.062 Oc. $316,415,965,685,109 215. gos.Bes 100 OD $342,498,817,195,019 Dave won a photography contest and received a $1375 cash prize wil he earn more interest in 1 year 6% or in an account that pays 5.75% interest compounded monthly? How much more interest will he ear? In which account will he earn more interest? Round to the nearest dollar as needed) O A He will earn more interest in the compound interest account than in the simple interest account. OB. He will earn more interest in the simple interest account than in the compound interest account
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