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You are considering two investments. One pays 1.65% interest semi-annually, and the other investment pays 1.6% interest monthly. What are the APY (EAR or EAY)

You are considering two investments. One pays 1.65% interest semi-annually, and the other investment pays 1.6% interest monthly. What are the APY (EAR or EAY) of each investment and which would you prefer?

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