Question
There are three investments you are considering: Investment 1: Invest in Supreme Bank that offers a monthly interest rate of 1.5% compounded monthly. Investment 2:
There are three investments you are considering:
Investment 1: Invest in Supreme Bank that offers a monthly interest rate of 1.5% compounded monthly.
Investment 2: Invest in High Growth Bank that guarantees it will pay 18.5% compounded annually.
Investment 3: Invest in Super High Return Bank that offers a quarterly interest rate of 4.4% compounded quarterly.
a. What are the APRs for the three investment options?
b. Which investment options should you choose?
I'm not sure how to handle this..
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Puzzle Of Latin American Economic Development
Authors: Patrice Franko
2nd Edition
0742524663, 9780742524668
