Question
Anne plans to put some money in a savings account and has been quoted by two banks: Bank A offers the rate of 8.95% pa
Anne plans to put some money in a savings account and has been quoted by two banks: Bank A offers the rate of 8.95% pa compounded monthly, and Bank B offers the rate of 9% pa compounded semi-annually.
Required:
Calculate the annual effective interest rate (EAR) of the two banks. (5 marks)
ANSWER: ** Answer box will enlarge as you type
Which Bank would Anne choose and explain why? (2 marks)
ANSWER:
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Auditing Information Security A Complete Guide
Authors: Gerardus Blokdyk
2020 Edition
1867303531, 978-1867303534
