Determine the effective annual yield for each investment. Then select the better investment. 11.5% compounded monthly; 11.75% compounded annually Click the icon to view some finance formulas. The effective annual yield for a 11.5% compounded monthly investment is % . (Round to two decimal places as needed.) Formulas In the provided formulas, A is the balance in the account after t years, P is the principal investment, r is the annual interest rate in decimal form, n is the number of compounding periods per year, and Y is the investment's effective annual yield in decimal form. nt A P = A =Pert Y = -1 nt 1+ Print Done

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