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QUESTION
3. You have a choice between two savings accounts: one that compounds annually with an APR of 5.7% and another that compounds monthly with an APR of
3. You have a choice between two savings accounts: one that compounds annually with an APR of 5.7% and another that compounds monthly with an APR of 5.67%. What is the APY for each account? Which one would you choose? Show your calculations.
