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QUESTION

Whick of the following bank accounts has the highest effective return and why?

Whick of the following bank accounts has the highest effective return and why?A. An account which pays 10% nominal interest with monthly com-pounding.B. An account which pays 10% nominal interest with daily com-pounding.C. An account which pays 10% nominal interest with annual com-pounding.D. An account which pays 9% nominal interest with daily com-pounding.E. All of the investments above have the same effective annual return

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