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The banks in your area offer the following rates of interest on their savings accounts. If you want to open one of these accounts, which
The banks in your area offer the following rates of interest on their savings accounts. If you want to open one of these accounts, which bank should you select? (Assume a 365- day year.) (Hint: use 4 decimals) Bank A:.79 percent APR with daily compounding. Bank B:.85 percent APR with monthly compounding. Bank C:.8755 percent APR with annual compounding. Bank D:.87 percent APR with quarterly compounding. Bank E: .875 percent APR with semiannual compounding. O Bank A O Bank B O Bank C O Bank D O Bank E
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