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Bank A: 1 6 percent compounded dailyBank B: 1 6 . 5 percent compounded quarterlyBank C: 1 7 percent compounded annuallyWhich of these is the

Bank A:

16

percent compounded dailyBank B:

16.5

percent compounded quarterlyBank C:

17

percent compounded annuallyWhich of these is the best if you are thinking of opening a savings account? Which of these is best if they represent loan rates?

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