## Effective Annual Yield Assignment

Determine the effective annual yield for each investment. Then select the better investment. Assume 360 days in a year. 10% compounded monthly; 10.25% compounded annually The effective annual yield for a 10% compounded monthly investment is%. (Round to two decimal places as needed.) The effective annual yield for a 10.25% compounded annual investment is. (Round to two decimal places as needed.) Choose a better investment below. 10.25% compounded annually 10% compounded monthly.

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