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Q3. Determine the effective annual yield for each investment. Then select the better investment. Assume 360 days in a year. If rounding is required, round
Q3. Determine the effective annual yield for each investment. Then select the better investment. Assume 360 days in a year. If rounding is required, round to the nearest tenth of a percent.
a) 5.6% compounded semiannually;
b) 5.4% compounded daily
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