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You are comparing two investment choices. Option A offers a rate of 5% which is...

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Finance

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You are comparing two investment choices. Option A offers a rate of 5% which is compounded 2 times per year. Option B offers a competing account with daily compounding. What rate does Option B have to offer in order to produce the same effective interest rate as Oprion A? Assume a 365-day year and express your answer in percentage form rounded to two decimal places. (e.g., 4.6%) % (Round to two decimal places.)

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