Question: PLEASE SHOW WORK What is effective annual return for the following scenarios respectively? 1) An account that pays 6.00% nominal interest with annual compounding. 2)

PLEASE SHOW WORK

What is effective annual return for the following scenarios respectively?

1) An account that pays 6.00% nominal interest with annual compounding.

2) An account that pays 6.00% nominal interest with quarterly compounding. .

3) An account that pays 6.00% nominal interest with daily compounding.

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