You plan to invest some money in a bank account which of, Ask an Expert

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

6.0% with daily (365-day) compounding.

6.0% with quarterly compounding.

6.0% with annual compounding.

6.1% with annual compounding.

6.0% with monthly compounding.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92393815

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