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You are planning to save for your retirement over the next 25 years. To do this, you are considering two savings accounts in a bank:
You are planning to save for your retirement over the next 25 years. To do this, you are considering two savings accounts in a bank: Account #1 pays 19.75% daily interest rate Account #2 pays 20% quarterly interest rate Which account should you choose? Account #1 or #2? Please show all your calculations to get partial credit. Kindly write either 1 or 2 as an
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