Question: Carlee McNally invests $5,000 at 6% compounded semi ally for one year, and Jake McNally invests an equal amount at 6% compounded quarterly for one

Carlee McNally invests $5,000 at 6% compounded semi ally for one year, and Jake McNally invests an equal amount at 6% compounded quarterly for one year. Use Table 13-1 determine the interest for each investment. Find the effective rate to the nearest hundredth percent for each investment?

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