Question
Keller has $20,000 to invest. He plans to use it for retirement in 20 years. He has two options for his investment. City Bank offers
Keller has $20,000 to invest. He plans to use it for retirement in 20 years. He has two options for his investment. City Bank offers a CD with simple interest at a rate of 8%.8%. Broker B has a treasury note that offers an interest rate of 8% compounded yearly. Which bank should he choose to give himself the highest rate of return?
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International Finance A Survey
Authors: H. Kent Baker, Leigh A. Riddick
1st Edition
0199754659, 978-0199754656
