QUESTION 16

Bank A pays 18.0% interest compounded semi-annually (i.e. every six months), while Bank B pays 17.4% interest compounded daily. Which of the following represent the actual annual returns earned in Bank A and Bank B?

	A.	18.81% and 19.00%
	B.	18.81% and 19.12%
	C.	19.03% and 19.24%
	D.	19.14% and 19.24%
	E.	19.25% and 19.48%
	F.	19.25% and 19.60%
	G.	19.46% and 19.72%
	H.	19.57% and 19.72%