I will give brainiest to whoever answers correctly !!

Therefore, the effective annual yield for $1 invested for 1 year at 2.4% compounded monthly is 1.0243 - 1 = 0.0243 = 2.43% 2.6% and so the bank statement is incorrect.

Step-by-step explanation:

Data:

= 1

r = 2.4% = 0.024

n = 12

t = 1

General equation of amount that is compounded monthly:

= +

Substitute values:

=

Evaluate:

2(2x + 3) = -4 + 2(2x + 5)

4x + 6 = -4 + 4x + 10

4x + 6 = 4x + 6

4x - 6 + 6 = 4x - 6 + 6

4x = 4x

x = x

unlimited solutions.