Determine which is the better investment: 3.38% compounded semiannually or 3.51% compounded quarterly. Round your answers to 2 decimal places.

Determine which is the better investment: 3.38% compounded semiannually or 3.51% compounded quarterly. Round your answers to 2 decimal places. The 3.38% semiannual investment gives an effective rate of %. The 3.51% quarterly investment gives an effective rate of %. Therefore, the investment is a better investment