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You have a savings account in which you leave the funds for one year without adding to or withdrawing from the account. Which would you
You have a savings account in which you leave the funds for one year without adding to or withdrawing from the account. Which would you rather have: a daily compounded rate of .045%, a weekly compounded rate of .0265%, a monthly compounded rate of 1.15%, a quarterly compounded rater of 3.75%, a semiannually compounded rate of 7.5%, or an annually compounded rate of 16%?
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