Do the relevant calculations so you can indicate which you prefer: a bank account that...
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Finance
Do the relevant calculations so you can indicate which you prefer: a bank account that pays 5.8% per year (EAR) for 3 years or a. an account that pays 2.5% every 6 months for 3 years? b. an account that pays 7.6% every 18 months for 3 years? c. an account that pays 0.51% per month for 3 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 5.8% per year for three years, the amount you will receive after three years is $ (Round to five decimal places.)
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