You are offered a note that pays $600 in 12 months (or 365 days) for $550. You have $550 in a bank that pays a 9.1 nominal rate, with 365 daily compounding, You plan to leave the money in the bank if you don't buy the note. The note is riskless. Should you buy it? Why? Yes, I would buy it because the effective rate of the bank is higher Yes, I would buy it because the bank provides lower future value. No, I would not buy it because the bank provides lower future value Yes, I would buy it because the effective rate on the note is higher. No, I would not buy it because the effective rate on the note is higher No, I would not buy it because the bank provides higher future value. o QUESTION 7 The bond consists of a 10-year, 10% annuity of 50 year plus a 5500 lump sumatt-10 What is the present value of annuity! 5306.95 $307,01 5307.07 $30723 $308.13 $308.07