You want to invest $11,000 and are looking for safe investment options. Your bank is offering...

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You want to invest $11,000 and are looking for safe investment options. Your bank is offering you a certificate of deposit that pays a nominal rate of 14% that is compounded bimonthly (every two months). What is the effective rate of return that you will earn from this investment? O 15.157% O 14.702 % O14.843% O 14.721% Suppose you decide to deposit $11,000 in a savings account that pays a nominal rate of 6%, but interest is compounded daily. Based on a 365-day year, how much would you have in the account after 12 months? (Hint: To calculate the number al days, divide the number of months by 12 and multiply by 365.) O $11,446.55 $12,380.96 $11,329,75 O $11,680.15 You want to invest $11,000 and are looking for safe investment options. Your bank is offering you a certificate of deposit that pays a nominal rate of 14% that is compounded bimonthly (every two months). What is the effective rate of return that you will earn from this investment? O 15.157% O 14.702 % O14.843% O 14.721% Suppose you decide to deposit $11,000 in a savings account that pays a nominal rate of 6%, but interest is compounded daily. Based on a 365-day year, how much would you have in the account after 12 months? (Hint: To calculate the number al days, divide the number of months by 12 and multiply by 365.) O $11,446.55 $12,380.96 $11,329,75 O $11,680.15

Answer rating: 100% (QA)

stated interest rate 1540 y Nominal rate 15 401 Periodic rate 154 3851 4 Effe... View the full answer