Question
Isabelle wants to invest $1,000. She wants to withdraw her money three years from now. Which bank should she use if she wishes to maximize
Isabelle wants to invest $1,000. She wants to withdraw her money three years from now. Which bank should she use if she wishes to maximize her investment?
Bank C, which offers a rate of 4% compounded annually.
Bank B, which offers a simple rate of 5%.
Bank D, which offers a rate of 5% compounded monthly.
Bank E, which offers a rate of 5% compounded annually.
Bank A, which offers a simple rate of 4%.
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