Which of the following investments a return-maximizing investor would select?

a) an investment that has 9.2 percent quoted rate with annual compounding

b) an investment that has 8.9 percent quoted rate with quarterly compounding

c) an investment that has a 9 percent quoted rate with semiannual compounding

d) an investment that has 9 percent quoted rate with quarterly compounding

e) an investment that has 8.9 percent quoted rate with monthly compounding