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5. Bank l is paying 1.5% interest compounded annually, Bank 2 is paying 1.5% compounded monthly, and Bank 3 is paying 1.47% compounded daily (use

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5. Bank l is paying 1.5% interest compounded annually, Bank 2 is paying 1.5% compounded monthly, and Bank 3 is paying 1.47% compounded daily (use 365 days). Which Bank is paying the highest annual yield? ) Bank 1 b) Bank 2 c) Bank 3 d) Bank 1 and Bank 3 are equal

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