Suppose you have $2 million in a twoyear account paying 6% nominal rate compounded annually. The second bank offers you an account for two years paying a 6% nominal rate, but compounded bi monthly (that is, 6 times a year). If you move your account to the second bank, how much additional interest will you earn over the two years?
a 
$0 

b 
$7,290 

c 
$72,903 

d 
$6,400 

e 
$64,490 
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