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You are interested in investing your money in a bank account. Which of the following banks provides you with the highest effective rate of interest?

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You are interested in investing your money in a bank account. Which of the following banks provides you with the highest effective rate of interest? A. Bank A; 8 percent with monthly compounding. O B. Bank B; 8 percent with annual compounding. O C. Bank C; 8 percent with quarterly compounding. D. Bank D, 8 percent with daily (365-day) compounding 0 E. Bank E; 8 percent with biannual compounding

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