Would You Prefer a Savings Account That Paid 7% Interest

question 102

Multiple Choice

Would you prefer a savings account that paid 7% interest compounded quarterly,6.8% compounded monthly,7.2% compounded weekly,or an account that paid 7.5% with annual compounding?

• A) 7% compounded quarterly
• B) 6.8% compounded monthly
• C) 7.2% compounded weekly
• D) 7.5% compounded annually

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Definitions:

Storage Capacity

The maximum amount of data that can be stored in a storage device or medium.

USB 3.1

A version of the Universal Serial Bus standard for technology that offers significantly faster transfer rates than its predecessor, USB 3.0.

Removable Storage

Portable devices or media that allow users to transfer data between computers without requiring a permanent connection.

Digital Data

Information stored in a digital format, utilizing binary code of ones and zeroes, allowing for efficient storage, processing, and transmission.