Which of the following options is most profitable? A savings account that pays 1

Question

Which of the following options is most profitable?

A savings account that pays 12% annual compounding interest rate.

A savings account that pays 11% semiannual compounding interest rate.

A savings account that pays 10.5% quarterly compounding interest rate.

All are equally profitable.

A savings account that pays 12% annual compounding interest rate.

A savings account that pays 11% semiannual compounding interest rate.

A savings account that pays 10.5% quarterly compounding interest rate.

All are equally profitable.

Explanation / Answer

A savings account that pays 10.5% quarterly compounding interest rate.

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