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You are shopping for savings accounts and find bank A offers an account with 6.125% APR with annual compounding, and bank B offers an account

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You are shopping for savings accounts and find bank A offers an account with 6.125% APR with annual compounding, and bank B offers an account with 6% APR with daily compounding. Which bank offers a higher effective annual rate? When comparing EAR, use at least 3 decimal points (e.g., 6.111%, not 6.1%). Insufficient information to determine the answer. Bank A Bank B They offer the same effective annual rate

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