Determine the effective annual yield for each investment. Then select the better investment.

5.08%

compounded

monthly;

5.09%

compounded annually

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Part 1

Select the correct choice below and fill in the answer boxes within your choice.

(Round to the nearest hundredth as needed.)

A.The first investment,

5.08%

compounded

monthly,

is the better investment because the effective annual yield for the first investment is

enter your response here%

and the effective annual yield for a

5.09%

compounded

annually

investment is

enter your response here%.

B.The second investment,

5.09%

compounded

annually,

is the better investment because the effective annual yield for the first investment is

enter your response here%

and the effective annual yield for a

5.09%

compounded

annually

investment is

enter your response here%.