Question: Round to five decimal places. Which do you prefer: a bank account that pays 5.4% per year (EAR) for three years or a. An account

Round to five decimal places.

Which do you prefer: a bank account that pays 5.4% per year (EAR) for three years or a. An account that pays 2.5% every six months for three years? b. An account that pays 7.6% every 18 months for three years? c. An account that pays 0.44% 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.)

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