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Which of the following is a better deal if you want to maximize the return on your savings? (HINT: Calculate and compare the effective annual

Which of the following is a better deal if you want to maximize the return on your savings? (HINT: Calculate and compare the effective annual rates)

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Earning a periodic interest rate of 0.2% compounded monthly.

Earning a periodic interest rate of 0.6% compounded quarterly.

Earning a periodic interest rate of 1.25% compounded semiannually.

Earning a periodic interest rate of 2.50% compounded annually.

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