GRE Problem Solving Question 441

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Source: Magoosh

If $5,000,000 is the initial amount placed in an account that collects 7% annual interest, which of the following compounding rates would produce the largest total amount after two years?

  • A compounding annually
  • B compounding quarterly
  • C compounding monthly
  • D compounding daily
  • E All four of these would produce the same total

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