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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 8.00 percent interest compounded daily

B) a bank CD that pays 8.19 percent compounded monthly

C) a bank CD that pays 8.36 percent annually

D) a bank CD that pays 8.24 percent compounded semiannually

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