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Do the relevant calculations so you can indicate which you prefer: a bank account that pays 5.6% per year (EAR) for three years or a.
Do the relevant calculations so you can indicate which you prefer: a bank account that pays 5.6% per year (EAR) for three years or a. an account that pays 2.8% every six months for 3 years? b. an account that pays 8.4% every 18 months for 3 years? c. an account that pays 0.54% per month for 3 years? (Note: Be careful not to round any intermediate steps to fewer than six decimal places.) If you deposit $1 into a bank account that pays 5.6% per year for three years, the amount you will receive after three years is $ 1.17758. (Round to five decimal places.) a. An account that pays 2.8% every six months for 3 years? If you deposit $1 into a bank account that pays 2.8% every six months for three years, the amount you will receive after three years is $ (Round to five decimal places.) Which bank account would you prefer? (Select from drop-down menu.) b. An account that pays 8.4% every 18 months for 3 years? If you deposit $1 into a bank account that pays 8.4% every 18 months for three years, the amount you will receive after three years is $ (Round to five decimal places.) Which bank account would you prefer? (Select from drop-down menu.) c. An account that pays 0.54% per month for three years? If you deposit $1 into a bank account that pays 0.54% per month for three years, the amount you will receive after three years is $. (Round to five decimal places.) Which bank account would you prefer? (Select from drop-down menu.)
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