You have a choice of two accounts in which to invest your money for one year. Account A pays 3.6% simple interest rate and account B pays 3% interest compounded monthly. Compute the effective annual...

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Extracted text: You have a choice of two accounts in which to invest your money for one year. Account A pays 3.6% simple interest rate and account B pays 3% interest compounded monthly. Compute the effective annual yield of account B and determine which account has the better rate. O A. The rates are the same. O B. Account B O C. Account A O D. There is not enough information to decide.