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You have a savings account in which you leave the funds for one year without adding or withdrawing from the account. What is the value
You have a savings account in which you leave the funds for one year without adding or withdrawing from the account. What is the value of the highest EAR given the following periodic rates: a daily compounded rate of 0.045%, a weekly compounded rate of 0.305%, a monthly compounded rate of 1.35%, a quarterly compounded rate of 4.15%, a semi-annually compounded rate of 8.5%, or an annually compounded rate of 17%? EAR = (1 + Periodic Rate)C/Y - 1 16.10% 16.72% 17.85% 18.36% 20.05%
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