Question: This problem produced an error for one student. A bank offers you the following 3 options: 1. j2=15% j 2 = 15 % 2. j12=14.65%

This problem produced an error for one student. A bank offers you the following 3 options:

1. j2=15% j 2 = 15 %

2. j12=14.65% j 12 = 14.65 %

3. j52=14.5% j 52 = 14.5 %

What is the highest annual effective rate of the 3 options?

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