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What is effective annual return for the following scenarios respectively? 1) An account that pays 8.00% nominal interest with annual compounding. 2) An account that

What is effective annual return for the following scenarios respectively?

1) An account that pays 8.00% nominal interest with annual compounding.

2) An account that pays 7.00% nominal interest with quarterly compounding.

3) An account that pays 6.00% nominal interest with monthly compounding.

4) An account that pays 5.00% nominal interest with daily compounding.

show work please.

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