LeGo Financials offer two investment plans. Investment A pays 9 percent interest compounded monthly, whereas Investment B pays 10 percent interest compounded semiannually. What are the effective annual rates of Investment A and Investment B?
a) 9.38%; 10.25%
b) 9.75%; 10.50%
c) 9.94%; 10.45%
d) 9.38%; 10.50%
e) 9.75%; 10.25%
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Home » Business » LeGo Financials offer two investment plans. Investment A pays 9 percent interest compounded monthly, whereas Investment B pays 10 percent interest compounded semiannually. What are the effective annual rates of Investment A and Investment B? a) 9.