Question: You have a savings account in which you leave the
You have a savings account in which you leave the funds for one year without adding or withdrawing from the account. What would you rather have: a daily compounded rate of 0.045%, a weekly compounded rate of 0.305%, a monthly compounded rate of 1.35%, a quarterly compounded rate of 4.15%, a semi-annually compounded rate of 8.5%, or an annually compounded rate of 17%?
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