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A 1 . You bought a scratchie and you won $ 2 0 0 0 . You will put this money into a savings account
A You bought a "scratchie" and you won $ You will put this money into a savings account for two
years. You find four banks offering the following deals:
a YNG bank pa compounding monthly. There is an annul accountkeeping fee of $
b St Georgina bank pa compounding weekly. There are no fees on this account.
c Mooncorp bank continuous compounding. There is an annual accountkeeping fee of $
d Commonstealth bank pa compounding annually. There are no fees on this account.
Which account should you choose? How much would you have at the end of the two years under each
option?
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