A newspaper's business section runs an article about savings at various banks in the city. They find
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A newspaper's business section runs an article about savings at various banks in the city. They find six that offer accounts that offer compound interest.
Bank A offers \(3.76 \%\) compounded daily.
Bank B offers \(3.85 \%\) compounded annually.
Bank C offers \(3.77 \%\) compounded weekly.
Bank \(D\) offers \(3.74 \%\) compounded daily.
Bank E offers \(3.81 \%\) compounded semi-annually.
To earn the most interest on a deposit, which bank should a person choose?
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Anurag Agrawal
I am a highly enthusiastic person who likes to explain concepts in simplified language. Be it in my job role as a manager of 4 people or when I used to take classes for specially able kids at our university. I did this continuously for 3 years and my god, that was so fulfilling. Sometimes I've skipped my own classes just to teach these kids and help them get their fair share of opportunities, which they would have missed out on. This was the key driver for me during that time. But since I've joined my job I wasn't able to make time for my passion of teaching due to hectic schedules. But now I've made a commitment to teach for at least an hour a day.
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