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Which do you prefer: a bank account that pays 5 . 5 7 % per year ( EAR ) for 3 years or a .

Which do you prefer: a bank account that pays 5.57% per year (EAR) for 3 years or
a. an account that pays 2.19% every six months for 3 years?
b. an account that pays 7.92% every 18 months for 3 years?
c. an account that pays 0.67% per month for 3 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.)
a. Which do you prefer: a bank account that pays 5.57% per year (EAR) for 3 years or an account that pays 2.19% every six months for 3 years?
If you deposit $1 into a bank account that pays 5.57% per year for 3 years, the amount you will receive after 3 years is (Round to five decimal places.)
If you deposit $1 into a bank account that pays 2.19% every six months for 3 years, the amount you will receive after 3years is $.(Round to five decimal places.)
Which bank account would you prefer?
(Select from the drop-down menu.)
b. Which do you prefer: a bank account that pays 5.57% per year (EAR) for 3 years or an account that pays 7.92% every 18 months for 3 years?
If you deposit $1 into a bank account that pays 7.92% every 18 months for 3 years, the amount you will receive after 3years is $.(Round to five decimal places.)
Which bank account would you prefer?
(Select from the drop-down menu.)
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