The effective yield of an investment plan is the percent increase in the balance after 1 year.

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The effective yield of an investment plan is the percent increase in the balance after 1 year. Find the effective yield for each investment plan. Which investment plan has the greatest effective yield? Which investment plan will have the highest balance after 5 years?
(a) 7% annual interest rate, compounded annually
(b) 7% annual interest rate, compounded continuously
(c) 7% annual interest rate, compounded quarterly
(d) 7.25% annual interest rate, compounded quarterly
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