Bank A advertises a money market account that pays 3.5% compounded quarterly. Bank B advertises a money market account that pays 3.4% compounded daily. a) Determine the annual percentage yield for bank A's money market account. ) Determine the annual percentage yield for bank B's money market account. ) Assuming all other factors are equal, which bank's money market account would be the better investment? a) The annual percentage yield for the bank A money market account is %. Round to two decimal places as needed.)

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Loanable Funds Theory

The loanable funds theory is a neoclassical theory that determines the interest rate where the demand for loanable investments and supply of loanable funds intersect. To determine the interest rate, this theory employs linear regression and a demand curve. At the equilibrium point, demand for borrowings and demand for the issuance of borrowing funds are inextricably linked. This point of equilibrium should equalize demand and the supply of money available for borrowing.