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 $4\mathrm{.}9\%$ compounded monthly on the cash value of their policies

Company $2$: pays $4\mathrm{.}92\%$ 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?

Company $1$

Company $2$