For life insurance policies, some of the premium pays for the cost of the insurance, and the remainder goes toward the cash value of the policy and earns interest like a savings account. Consider the following insurance company options. Company 1: pays 4.4% compounded monthly on the cash value of their policies Company 2: pays 4.42% compounded semiannually on the cash value of their policies What is the APY offered by each company? (Round your answers to the nearest hundredth.)

Company 1 % -

Company 2 % -

Which company offers a higher yield?