Question
If you deposit $1 into a bank account that pays 4.7% per year for three years:The amount you will receive after three years is $nothing.
If you deposit
$1
into a bank account that pays
4.7%
per year for three years:The amount you will receive after three years is
$nothing.
(Round to five decimal places.)a. An account that pays
2.9%
every six months for 3 years? If you deposit
$1
into a bank account that pays
2.9%
every six months for three years:The amount you will receive after three years is
$nothing.
(Round to five decimal places.)Which bank account would you prefer?
2.9 % every six months for three years
4.7% per year for three years
. (Select from the drop-down menu.)b. An account that pays
7.9%
every 18 months for 3 years? If you deposit
$1
into a bank account that pays
7.9%
every 18 months for three years:The amount you will receive after three years is
$nothing.
(Round to five decimal places.)Which bank account would you prefer?
4.7% per year for three years
7.9% every 18 months for three years
. (Select from the drop-down menu.)c. An account that pays
0.62%
per month for three years? If you deposit
$1
into a bank account that pays
0.62%
per month for three yearsThe amount you will receive after three years is
$nothing.
(Round to five decimal places.)Which bank account would you prefer?
4.7 % per year for three years
0.62% every month for three years
. (Select from the drop-down menu.)
Enter your answer in each of the answer boxes.
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