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Eileen is planning to invest in a bank account. Bank A offers 4.30% rate of interest, compounded semi-annually. Bank B offers 4.40% rate of interest,
Eileen is planning to invest in a bank account. Bank A offers 4.30% rate of interest, compounded semi-annually. Bank B offers 4.40% rate of interest, compounded daily. Bank C offers 3.50% rate of interest, compounded continuously. Eileen, being a Finance major, wisely compares the effective annual rates (EARs) of the three offers, and chooses the bank that yields the highest EAR of ________ for her investment.
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