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Situation: Suppose that your client has extra money and decided to deposit it in a bank and not withdraw from it for the given period
Situation: Suppose that your client has extra money and decided to deposit it in a bank and not withdraw from it for the given period of time. There are offers from three different banks. Elite Bank offers 6% simple interest if he deposits P300.000.00 for 5 years. Financial Bank offers 4% simple interest if he deposits P500,000.00 for 3 years. Prosperity Bank offers 5%% simple interest if he deposits P250,000.00 for 6 years, The client asked you to evaluate these three offers and give a comprehensive advice on which bank he will choose if he wants to earn more money in the shortest period of time. To do this, you will need to identify the projection of interest on each account and present you professional advice to the client. Performance You will have to do the following: Product: I. Compute for the interest for each given offer. 2. Prepare a comprehensive financial advice through a powerpoint presentation that will lead to a good decision for the client in selecting an account. a. Identify the given per offer. b. Solution on how to compute the interest per offer. c. Solution on how to compute the maturity value per offer. d. Answer to the question. "Which bank offer is the best?". e. Explain why is the chosen offer the best offer. 3. Submit your powerpoint presentation on or before November 10, 2023
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