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You have $2,500 to deposit into a savings account. The five banks in your area offer the following rates. In which bank should you deposit your savings?
a) Bank C: 3.70% compounded semi-annually
b) Bank E: 3.65% compounded quarterly
c) Bank D: 3.67% compounded continuously
d) Bank A: 3.75%, compounded annually
e) Bank B: 3.69%, compounded monthly
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You have $2,500 to deposit into a savings account. The five banks in your area offer the following r...
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