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You are planning to save your Christmas bonuses from work and are comparing savings accounts: Account A compounds semi-annually while account B compounds monthly. If
You are planning to save your Christmas bonuses from work and are comparing savings accounts: Account A compounds semi-annually while account B compounds monthly. If both accounts have the same effective annual rate of interest and you place only the bonuses in the account, you should choose _
. | Either since you would be indifferent between the two. | |
b. | Account B because it has a higher APR. | |
c. | Account B because it is compounded more often. | |
d. | Account A because it has a higher APR. | |
e. | Account A because you will pay less in taxes. |
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