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If your bank compounds savings accounts monthly, which rate is the highest? Please help me find the correct answer from the below question The nominal

If your bank compounds savings accounts monthly, which rate is the highest?

Please help me find the correct answer from the below question

  1. The nominal Interest rate
  2. The effective annual interest rate
  3. Not enough information to know
  4. Interest rates are always the sane no matter how they are

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