Andrew has money to invest in interest earning deposits. He has determined that suitable deposits...
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Accounting
Andrew has money to invest in interest earning deposits. He has determined that suitable deposits are available for: 4.81% compounded semi-annually. 4.76% compounded quarterly, and 4.70% compounded monthly. Determine the effective rate for each option to 2 decimal places.
The effective rate for 4.81% compounded semi-annually =
The effective rate for 4.76% compounded quarterly
The effective rate for 4.70% compounded monthly =
For Andrew to maximize his investments, which effective rate should he choose?
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