$10,000 is inverted under two schemes for 6yrs

1) into a savings account of nominal annual rate of 12% compound monthly

or

2) you use this 10,000 to purchase a 6 payment level annuity due rate 10% and invest these payments in a savings account right after receving them which pay annual effective rate of 6%

which scheme is more profitable at the end of 6th yr

HW 5 Due Wed Oct 7 11:59 PM $10000 is invested under two schemes for 6 yrs 1) into a savings account of nominal annual interest rate of 12% compounded honthly