Question: You are considering two different saving account for your emergency fund. Account A offers a nominal interest rate of 4% compounded annually, while Account B

You are considering two different saving account for your emergency fund. Account A offers a nominal interest rate of 4% compounded annually, while Account B offers a nominal interest rate of 3.8% compounded quarterly. Both accounts have no fees or additional costs. Calculate and compare the effective interest rates for both accounts over a one-year period to determine which one would yield a higher return on your savings.

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