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Which of the following investments has the HIGHEST effective annual return (EAR)? (Assi that all CDs are of equal risk) 1) A bank CD that

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Which of the following investments has the HIGHEST effective annual return (EAR)? (Assi that all CDs are of equal risk) 1) A bank CD that pays 8.36 percent annually 2) A bank CD that pays 8.19 percent compounded monthly 3) A bank CD that pays 8.oo percent interest compounded daily 4) A bank CD that pays 8.24 percent compounded semiannually

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