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Which of the following investments has the HIGHEST effective annual return (EAR)? (Assume that all CDs are of equal risk) a. a bank CD that

Which of the following investments has the HIGHEST effective annual return (EAR)? (Assume that all CDs are of equal risk)

a. a bank CD that pays 7.00 percent compounded daily

b. a bank CD that pays 7.01 percent compounded monthly

c. a bank CD that pays 7.27 percent annually

d. a bank CD that pays 7.10 percent compounded semiannually

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