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A young man, ofter the first month of work in a company, decides to save for two years to buy a car. Which saving plan
A young man, ofter the first month of work in a company, decides to save for two years to buy a car. Which saving plan is best for you ? a) Deposit $400 at the beginning of each month at 6% annual compounding monthly. b) Invest $800 at the beginning of each bimonthly at 6.3% convertible bimonthly. c) Save $200 every fortnight, at the beginning, earning at 5.7% convertible fortnightly.
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