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FINA 3001 BD Question 1, P5-2 (similar ... Part 1 of 7 > HW Score:...

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FINA 3001 BD Question 1, P5-2 (similar ... Part 1 of 7 > HW Score: 31.25%, 5 of 1 O Points: 0 of 1 Periodic interest rates. You have a savings account in which you leave the funds for one year without adding to or withdrawing from the account. Which would you rather have: a daily compounded rate of 0.055%, a weekly compounded rate of 0.285%, a monthly compounded rate of 1.35%, a quarterly compounded rater of 3.75%, a semiannually compounded rate of 7%, or an annually compounded rate of 15%? What is the effective annual rate (EAR) of a daily compounded rate of 0.055%? 1% (Round to two decimal places.)

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