Your bank offers four savings products. All products pay interest at the end of the...
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Accounting
Your bank offers four savings products. All products pay interest at the end of the compounding period. Product Annual pays an APR of 12.10% compounded annually, Product Semi pays an APR of 11.90% compounded semi-annually, Product Quarterly pays an APR of 11.70% compounded quarterly and Product Monthly pays an APR of 11.50% compounded monthly. If you have savings of $100,000 to deposit and will not make any additions to or withdrawals from this account for 3 years, which savings product would you prefer? Why
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