1.) Suppose you saw a sign at your local bank that said, "2.4% rate compounded semiannually 2.7% - Annual Percentage Yield (APY)." Is there anything wrong with the sign? Explain. 2.) For a total accumulated amount of $8471.03, a principal of $3000, and a time period of 5 years, use the compound interest formula to find r, if interest is compounded monthly.

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