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You plan to invest some money in a bank account. Which of the following banks provides you with the highest effective rate of interest? A-

You plan to invest some money in a bank account. Which of the following banks provides you with the highest effective rate of interest?

A- Bank 1; 4.10% with annual compounding.

B-Bank 5; 4.0% with daily (365-day) compounding.

C- Bank 4; 4.0% with quarterly compounding.

D- Bank 2; 4.0% with monthly compounding.

F- Bank 3; 4.0% with annual compounding.

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