Question: Can you please explain all the steps Which do you prefer: a bank account that pays 5.3% per year (EAR) for three years or a.

 Can you please explain all the steps Which do you prefer:

Can you please explain all the steps

Which do you prefer: a bank account that pays 5.3% per year (EAR) for three years or a. An account that pays 2.2 % every six months for three years? b. An account that pays 7.3 % every 18 months for three years? c. An account that pays 0.49% per month for three years? (Note: Compare your current bank EAR with each of the three alternative accounts. Be careful not to round any intermediate steps less than six decimal places.) If you deposit $1 into a bank account that pays 2.2 % every six months for three years: The amount you will receive after three years is $ (Round to five decimal places.) Which bank account would you prefer? . (Select from the drop-down .) menu. b. An account that pays 7.3% every 18 months for 3 years? If you deposit $1 into a bank account that pays 7.3% every 18 months for three years: The amount you will receive after three years is $ (Round to five decimal places.) Which bank account would you prefer? (Select from the drop-down menu.) c. An account that pays 0.49% per month for three years? If you deposit $1 into a bank account that pays 0.49% per month for three years (Round to five decimal places.) The amount you will receive after three years is $ (Select from the drop-down Which bank account would you prefer? menu.) Enter your answer in each of the answer boxes

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