Question: Which do you prefer a bank acoount that pays 4.6% per year (EAR) for three years or a. An acoount that pays 2.3% every six
Which do you prefer a bank acoount that pays 4.6% per year (EAR) for three years or a. An acoount that pays 2.3% every six months for thee years? b. An account that pays 8,1% 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 alfernative accounts. Be careful nor to round any intermediate steps less than six decimal places.) If you deposit $1 into a bank account that pays 4.6% per year for three years: The amount you will recelve afier three years is $ (Round to five decimal places.) a. An account that pays 23% every six months for 3 years? If you deposit $1 into a bank account that pays 2.3% 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 8.1% every 18 months for 3 years? If you deposit $1 into a bank account that pays 8.1% every 18 months for three years: The amount you wili receive after throe yoars is : (Round to fivo decimal places.) Which bank account would you prefer? (Select from the drop-down meru.) c. An account that pays 0.49% per month for three years? If you deposi $1 into a bank account that pays 0.49% per month for three years The amount you will receive after thee years is ? (Round to five decimal places.) Which bank account would you prefer? (Select from the drop down menu.)
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