Determine which is the better investment 645 compounded, Financial Management

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Determine which is the better investment 645 compounded

Determine which is the better investment: 6.45% compounded monthly or 6.63% compounded semi annually. Round your answers to 2 decimal places.

The 6.45% monthly investment gives an effective rate of %.

The 6.63% semi annually investment gives an effective rate of %.

Therefore, the (select) 6.45 % monthly OR 6.63 % semi annually investment is a better investment.

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Financial Management: Determine which is the better investment 645 compounded

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