Answer:
The answer is "Option C"
Step-by-step explanation:
The using formula[tex]= (1+\frac{r}{n})^n -1[/tex]
→r = rate
→ n = compounded value
In choice a:
When compounded is monthly [tex]4.0784\%[/tex]
[tex]n = 12[/tex]
[tex]\to (1+ \frac{0.040784}{12})^{12} = 1.0403-1 = 0.0403[/tex]
In choice b:
When compounded is quarterly[tex]4.0792\%[/tex]
[tex]n = 3\\\\\to (1+ \frac{0.040792}{12} )^{3} = 1.0102-1 = .0102[/tex]
In choice c:
Whenn compounded is daily [tex]4.0730 \%[/tex]
[tex]n = 365\\\\\to (1+ \frac{0.040730}{12})^{365} = 3.328-1 = 2.328[/tex]
In choice d:
When compounded is semiannually[tex]4.0798\%[/tex]
[tex]n = 2\\\\\to (1+ \frac{0.040798}{12})^{2} = 1.0066-1 = 0.0066[/tex]
