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A what are the aprs for the three investment options b what

1. There are three investments you are considering:

Investment 1: A saving account with an interest rate of 6% compounded daily. Investment 2: An investment fund guarantees it will pay 6.15% compounded annually. Investment 3: A fixed term deposit account guarantees to pay 1.525% per quarter.

a. What are the APRs for the three investment options?

b. What are the EARs of the three investments and which investment option(s) should you choose?

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