The details of four short-term investments are as follows:
Investment A pays interest of 1.7 percent every 3 months
Investment B pays interest of 3.4 percent every 6 months
Investment C pays interest of 5.4 percent every 9 months
Investment D pays interest of 7.0 percent every 12 months
The investment that gives the highest effective annual rate of interest, assuming that the interest is reinvested, is:
(a) Investment A
(b) Investment B
(c) Investment C
(d) Investment D