You have found three investment choices for a one-year deposit:
11.1 %APR compounded monthly,
11.1 %
APR compounded annually, and
10.4 %
APR compounded daily. Compute the EAR for each investment choice. (Assume that there are 365 days in the year.) (Note: Be careful not to round any intermediate steps less than six decimal places.)
The EAR for the first investment choice is
%.
(Round to three decimal places.)
The EAR for the second investment choice is
%.
(Round to three decimal places.)
The EAR for the third investment choice is
%.
(Round to three decimal places.)
