Which of the following investments has the HIGHEST effective annual return (EAR)? (Assume that all C
Which of the following investments has the HIGHEST effective annual return (EAR)? (Assume that all CDs are of equal risk)
a. a bank CD that pays 7.00 percent compounded daily
b. a bank CD that pays 7.01 percent compounded monthly
c. a bank CD that pays 7.27 percent annually
d. a bank CD that pays 7.10 percent compounded semiannually
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