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Which do you prefer: a bank account that pays 9% per year (EAR) for three years or: a. An account that pays 4.5% every six
Which do you prefer: a bank account that pays 9% per year (EAR) for three years or: a. An account that pays 4.5% every six months for three years? b. An account that pays 13.5% every 18 months for three years? c. An account that pays 0.9% per month for three years? a. An account that pays 4.5% every six months for three years? If you deposit $1 into a bank account that pays 9% per year for three years, you will have $. (Round to five decimal places.)
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