You want to invest your money. Bank 1 offers you a rate of 8.5% compounded quarterly. Bank
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You want to invest your money. Bank 1 offers you a rate of 8.5% compounded quarterly. Bank 2 offers you a rate of 8.2% compounded daily. Bank 3 offers you a rate of 8.75% compounded semi-annually. Bank 4 offers you an effective rate of 8.85%. Which bank would you choose?
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Suppose amount invested in each investment is 1 Bank 3 Amount P I 8...View the full answer
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Related Book For 
Fundamentals of corporate finance
ISBN: 978-0470876442
2nd Edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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