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Which one of the following has the lowest effective annual rate? A. 7 percent interest, compounded annually B. 7 percent interest, compounded semi-annually C. 7

Which one of the following has the lowest effective annual rate?

A. 7 percent interest, compounded annually

B. 7 percent interest, compounded semi-annually

C. 7 percent interest, compounded quarterly

D. 7 percent interest, compounded monthly

E. 7 percent interest, compounded daily

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