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2 Your grandfather has $10,000 he wants to save for you in a bank near your university. This bank's savings account pays 8% interest per
2 Your grandfather has $10,000 he wants to save for you in a bank near your university. This bank's savings account pays 8% interest per year compounded quarterly, for 5 years. Another bank within walking distance from your grandfather's house pays 10% interest compounded semiannually for 5 years. Which bank should you save the money in and why? (Hint: find the future value of each and compare). (5 points)
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