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5. If Bank A pays interest of 5% semiannually and Bank B pays interest of 4.5% daily, which bank gives a better return on your

5. If Bank A pays interest of 5% semiannually and Bank B pays interest of 4.5% daily, which bank gives a better return on your deposit? 6. What is the interest rate which, when compounded monthly, yields an effective interest rate of 6%

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