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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...