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You are looking at two savings accounts. National account pays 20%, with yearly compounding. Local account pays you an APR of 18.9 percent with monthly

You are looking at two savings accounts. National account pays 20%, with yearly compounding. Local account pays you an APR of 18.9 percent with monthly compounding. (A) What is the effective annual rate of each accounts? (B) Which accounts you should choose? Calculate the result rounded up to the four digit after the decimal point.

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