10).

a.b.

Determine the effective annual yield for each investment. Then select the better investment. Assume 360 days in a year. 3.5% compounded semiannually; 3.4% compounded daily The effective annual yield for a 3.5% compounded semiannually investment is %. (Round to two decimal places as needed.) At the time of her grandson's birth, a grandmother deposits $8000 in an account that pays 9% compounded monthly. What will be the value of the account at the child's twenty-first birthday, assuming that no other deposits or withdrawals are made during this period? The value of the account will be $0. (Round to the nearest dollar as needed.)