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Business, 14.02.2020 02:29 clipsyden

A friend was left $50,000 by his uncle. He has decided to put it into a savings account for the next year or so. He finds there are varying interest rates at savings institutions: 2.25% compounded every two months, 2.30% compounded quarterly, and 2.20% compounded continuously. He wishes to select the savings institution that will give him the highest return on his money.
What interest rate should he select?

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