Multiple Choice
What is the maximum effective annual yield among the following three banks? Give your answer correct to four decimal places.
A) Bank 1 with a nominal rate of 6.5% compounded monthly.
B) Bank 2 with a nominal rate of 6.35% compounded weekly.
C) Bank 3 with a nominal rate of 6.55% compounded yearly.
Correct Answer:
Verified
Correct Answer:
Verified
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