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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?

Bank 4; 6.0% with quarterly compounding.

Bank 5; 6.0% with daily (365-day) compounding.

Bank 2; 6.0% with monthly compounding.

Bank 1; 6.1% with annual compounding.

Bank 3; 6.0% with annual compounding.

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M998584

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