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Four different banks in town offer savings accounts that all pay a stated or quoted rate of 2.5%. However, each bank compounds interest paid on
Four different banks in town offer savings accounts that all pay a stated or quoted rate of 2.5%. However, each bank compounds interest paid on the account differently. If you want to save money in one of these banks, which do you pick? The one that compounds: a. annually b. monthly c. quarterly d. weekly e. it does not make a difference because they all pay 2.5%
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