Multiple Choice
Assume JP Morgan has a choice between two deposit accounts.Account A has an annual percentage rate of 7.55 percent but with interest compounded monthly.Account B has an annual percentage rate of 7.45 percent with interest compounded continuously.Which account provides the highest effective annual return?
A) Account A
B) Account B
C) Both provide the same effective annual return.
D) We don't have sufficient information to make a choice.
Correct Answer:
Verified
Correct Answer:
Verified
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