Which of the following types of income is often referred to as passive income? a) Sales from a t-shirts sold at a retail store b) Fundraising event for a nonprofit c) Profits made from a carwash business d) Interest made from a business saving account

You plan to invest some money in a bank account. which of the following banks provides you with the highest effective rate of interest? hint: perhaps this problem requires some calculations. bank 1; 6.1% with annual compounding. bank 2; 6.0% with monthly compounding. bank 3; 6.0% with annual compounding. bank 4; 6.0% with quarterly compounding. bank 5; 6.0% with daily (365-day) compounding.