Question: v Bank A pays ( 4 % ) interest compounded annually on deposits, while Bank B pays ( 3.25 % ) compounded daily. a. Based

v Bank A pays \( 4 \% \) interest compounded annually on deposits, while Bank B pays \( 3.25 \% \) compounded daily. a. Based on the EAR (or EFF96), which bank should you use? 1. You would choose Bank A 2 answers

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