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Sally has $4,500 that she wants to invest in a simple savings account for three and a half years. She finds one bank offering an
Sally has $4,500 that she wants to invest in a simple savings account for three and a half years. She finds one bank offering an annual interest rate of 2.75% compounded monthly, and another bank offering an annual interest rate of 2.7% compounded daily. Which bank should she choose to make the most money?
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Fundamentals Of Corporate Finance
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
5th Edition
0135811600, 978-0135811603
