Question: You have $ 2 , 5 0 0 that you want to use to open a savings account. You have found four different banks that

You have $2,500 that you want to use to open a savings account. You have found four different banks that are acceptable to you. Which bank should you use based upon the APRs quoted by each bank?
Bank A: 3.70%, compounded annually
Bank B: 3.70%, compounded semi-annually
Bank C: 3.70%, compounded quarterly
Bank D: 3.70%, compounded monthly

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