Question: A friend was left $ 5 0 , 0 0 0 by his uncle. He has decided to put it into a savings account for

A friend was left $50,000 by his uncle. He has decided to put it into a savings account for thenext year. Bank A offered him 2.25% compounded every two months. Bank B offered 2.30%compounded quarterly. Bank C offered him 3.30% compounded continuously. He wishes toselect the Bank that will give him the highest return on investment. What bank should heselect?

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