单选题 An analyst does research about compounding rate of return and gathers the following information.

Bank	Stated Annual Rate	Frequency of Compounding
1	3.45%	Quarterly
2	3.21%	Continuous

The effective annual rate for Bank 2 is:
A. less than the effective annual rate for Bank 1.
B. the same as the effective annual rate for Bank 1.
C. greater than the effective annual rate for Bank 1.

【正确答案】 A

【答案解析】[解析] R₁=(1+3.45%/4)⁴-1=3.495_0-/0＞R₂=e^0.0321-1=3.262%.