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 $ 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: compounded annually
Bank B: compounded semiannually
Bank C: compounded quarterly
Bank D: compounded monthly
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