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Three local banks pay different interest rates on time deposits with one-year maturities: Bank 1...

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Finance

Three local banks pay different interest rates on time deposits with one-year maturities:

Bank 1 - 4.5% per year compounded annually

Bank 2 - 4.3% per year compounded quarterly

Bank 3 - 4.1% per year compounded daily

Rank the three banks from highest to lowest in terms of the depositor's return.

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