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15 Witch bank is offering a term deposit that offers 12% per annum interest, compounding monthly. Dragon Bank is offering 12.3% per annum, compounding quarterly.

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15 Witch bank is offering a term deposit that offers 12% per annum interest, compounding monthly. Dragon Bank is offering 12.3% per annum, compounding quarterly. Which of the following statements is true? It is better to invest in Dragon bank as the EAR is higher than Witch bank It is better to invest in Witch bank as the EAR is higher than Dragon bank It is better to invest in Witch bank because the compounding periods are shorter It is better to invest in Dragon bank because the interest rate is higher It makes no difference as the interest earned will be the same over a year. Pus Next

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