How much are you really earning?

You plan to deposit $10,000 in a savings account and leave the money for at least 5 years. You found the following offers:

- Bellon Bank is offering 4% compounded once per year

- WNC Bank is offering 3.9% compounded twice per year

- Byfus Bank is offering 3.95% compounded monthly

- Reginald Bank is offering 3.92% compounded daily

Use APR and EAR

Which bank is the best choice?

How much money would you have after fifteen years in each of these accounts?

Plot the growth of $10,000 over 15 years at each rate on the same graph (excel).