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Suppose that you would like to make a deposit today into a savings account so that you will have $50,000 in three years for the

Suppose that you would like to make a deposit today into a savings account so that you will have $50,000 in three years for the down payment of your first house. The bank offers you APR of 8%. If you can choose how often to compound interest in your account, which of the following frequency will you choose?

1. quarterly

2. annual

3. monthly

4. continuous

5. semi-annual

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