Please show step by step on BA2 Plus Financial Calculator. Question 9 – rEAR versus rSIMPLE...

Please show step by step on BA2 Plus Financial Calculator.

Question 9 – rEAR versus rSIMPLE [2 points]: The First City Bank pays 6.6 percent interest, compounded annually, on time deposits. The Second City Bank pays 6.5 percent interest, compounded monthly. Based on effective interest rates, in which bank would you prefer to deposit your money?

Question 10 – rEAR versus rSIMPLE [2 points]: Krystal Magee invested $150,000 18 months ago. Currently, the investment is worth $179,422. Krystal knows the investment has paid interest every month, but she doesn’t know what the yield on her investment is. Help Krystal. Compute both the annual percentage rate (APR), rSIMPLE, and the effective annual rate (EAR), rEAR.

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SOLVED WITH BA II PLUS FINANCIAL CALCULATOR

jeff jeffy answered 2 years ago

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Please show step by step on BA2 Plus Financial Calculator. Question 9 – rEAR versus rSIMPLE...

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