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Question 6 (7 points) Which of the following investments has the highest effective annual rate (EAR)? (Assume that all CDs are of equal risk.) A

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Question 6 (7 points) Which of the following investments has the highest effective annual rate (EAR)? (Assume that all CDs are of equal risk.) A bank CD that pays 9.7% daily (365-day) A bank CD that pays 10% interest quarterly A bank CD that pays 10% semiannually. A bank CD that pays 9.8% monthly

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