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You want to invest $18,000 and are looking for safe investment options. Your bank is offering you a certificate of deposit that pays a nominal rate of 6% that is compounded semiannually, what is the effective rate of return that you will earn from this investment? o 5.996% O 6.090% O 6.175% o 6.273% Suppose you decide to deposit $18,000 in a savings account that pays a nominal rate of 16%, but interest is compounded daily. Based on a 365-day year, how much would you have in the account after three months? (Hint To calculate the number of days, divide the number of months by 12 and multiply by 365) O $19,671.58 O $19,484.23 $18,734.84 $18,360.14