Question
Assume you have CAD 3,000 today and you can save the money in an account that gives a compound annual interest of 3.5% or
Assume you have CAD 3,000 today and you can save the money in an account that gives a compound annual interest of 3.5% or you can save the money in an account that gives a simple annual interest of 4%. You want to leave the money untouched in either of the accounts for 4 years. Which account will you chose and why?
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Principles of Finance
Authors: Scott Besley, Eugene F. Brigham
6th edition
9781305178045, 1285429648, 1305178041, 978-1285429649
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