Bank A offers a savings account with interest rate of 2% compounded quarterly. Bank B offers a
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Question:
- Bank A offers a savings account with interest rate of 2% compounded quarterly. Bank B offers a savings account with interest rate of 2.25% compounded semi-annually. Assume customer can deposit $5,000 and leave it on deposit for 4 years. What would be the final value for each bank account?
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