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Jai Inherited 92,000 $ He decides to invest it for 10 years before he spends any of it. The three banks in his town offer
Jai Inherited 92,000 $ He decides to invest it for 10 years before he spends any of it. The three banks in his town offer the following terms:
Bank A: 5 1/2 % p.a. compounded yearly.
Bank B: 5 1/4 % p.a. compounded quarterly.
Bank C: 5% p.a. compounded monthly.
Which bank offers Jai the greatest interest on his inheritance?
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