Which do you prefer: a bank account that pays 4.9% per year (EAR) for three years or

a. An account that pays 2.7% every six months for three years?

b. An account that pays 6.8% every 18 months for three years?

c. An account that pays 0.56% per month for three years?

(Note: Compare your current bank EAR with each of the three alternative accounts. Be careful not to round any intermediate steps less than six decimal places.)