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Suppose Ohio Bank pays 6% APR compounded monthly on deposits. Eddie was going to deposit money with Ohio Bank, but then saw that Local Bank

Suppose Ohio Bank pays 6% APR compounded monthly on deposits. Eddie was going to deposit money with Ohio Bank, but then saw that Local Bank offers 6.1% APR compounded semiannually. If you want the best return, how would you approach picking between these two banks? Why?

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