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4. If you invest $50,000 to earn 8% interest, which of the following compounding approaches would return the highest amount after one year? a. Annually

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4. If you invest $50,000 to earn 8% interest, which of the following compounding approaches would return the highest amount after one year? a. Annually b. Quarterly C. Monthly d. Daily 5. Assume ABC Company deposits $20,000 with First National Bank in an account earning interest at 8% per annum, compounded quarterly. How much will ABC have in the account after 3 years? (Use the factor tables provided at the end. Round answers to the nearest whole dollar.) a. $25,194 b. $25,306 c. $25,365 d. $26,898

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