Posted by **charlene** on Monday, April 18, 2011 at 1:04pm.

calculate the effective yield, then rank them from highest yield to lowest yield:

12% compound annually

11.8% compound quarterly

11.9% compound semiannually

11.7% compound daily

- math -
**MathMate**, Monday, April 18, 2011 at 1:12pm
I'll take the last one.

The others are calculated similarly.

Principal, P= $1 (for comparison purposes)

Period = day

Number of periods, n = 365

Rate, R = 1+11.7%/365 = 1.000320548

Amount after one year

= PR^n

= 1*1.000320548^365

= 1.1241...

The equivalent annual interest is 12.41%

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