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Five different lenders quote youan annual percentage rate of 5 percent on a car loan, but each lender compounds interest on a different period/frequency.Which one

Five different lenders quote youan annual percentage rate of 5 percent on a car loan, but each lender compounds interest on a different period/frequency.Which one of the following compounding periods provides thelowesteffective annual interest rate?

A) Continuous

B) semi-annual

C) monthly

D) annual

E) daily

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