Multiple Choice
Assume Julian 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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