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Five banks offer the same nominal 5 % rate ( Inom , APR ) on deposits, butA pays interest annually, B pays semiannually, C pays

Five banks offer the same nominal 5% rate (Inom, APR) on deposits, butA pays interest annually, B pays semiannually, C pays quarterly, Dpays monthly, and E pays daily. Calculate the effective annual rate(EAR/APY) for each bank and the future values of a $5000 deposit atthe end of 1 year and 2 years
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