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An online bank is offering to pay 0.20% interest per month on deposits. Your local bank offers to pay 0.70% interest quarterly (every 3 months).

An online bank is offering to pay 0.20% interest per month on deposits. Your local bank offers to pay 0.70% interest quarterly (every 3 months). Which is the higher interest rate? (Note: Be careful not to round any intermediate steps less than six decimal places.)

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Recommended Textbook for

Recent Advances In Computational Finance

Recent Advances In Computational Finance

Authors: Nikolaos S. Thomaidis, Jr. Dash, Gordon H.

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1626181233, 978-1626181236

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