Question
Which of the following investments has the highest effective return? (All are of equal risk) A bank CD which pays 10%, compounded monthly A bank
Which of the following investments has the highest effective return? (All are of equal risk)
A bank CD which pays 10%, compounded monthly
A bank CD which pays 10.5%, compounded annually
A bank CD which pays 10%, compounded quarterly
A bank CD which pays 10.3%, compounded semiannually
A bank CD which pays 9.6%, compounded daily (on a 365-day basis)
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The Complete Personal Finance Handbook
Authors: Teri B Clark
1st Edition
160138047X, 978-1601380470
