1. What equation would you use to calculate the annual percentage yield on an account that pays 6% interest compounded quarterly? a XXXXXXXXXX/0.06) 4 − 1 b XXXXXXXXXX/4.00) 4 − 1 c XXXXXXXXXX/4.00) 6...

1. What equation would you use to calculate the annual percentage yield on an account that pays 6% interest compounded quarterly?

a. (1 + 0.40/0.06)⁴
− 1

b. (1 + 0.06/4.00)⁴
− 1

c. (1 + 0.06/4.00)⁶
− 1

d. (1 + 0.40/0.06)⁶
– 1