Which of the following bank accounts has the highest effective annual return An account that pays 8 nominal interest with monthly compound An account that pays 8 nominal interest with annual An account that pays 7 nominal with daily (365 day) compound An account that pays 7 nominal with monthly compound

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Which of the following bank accounts has the highest effective annual return? An account that pays 8% nominal interest with monthly compound. An account that

Which of the following bank accounts has the highest effective annual return?

An account that pays 8% nominal interest with monthly compound.
An account that pays 8% nominal interest with annual
An account that pays 7% nominal with daily (365 day) compound
An account that pays 7% nominal with monthly compound.

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