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Today you make a single deposit of 1 5 0 0 0 at a savings account, and freeze it for exactly 1 3 years, during
Today you make a single deposit of at a savings account, and freeze it for exactly years, during which you make no additional savings, and you only let your savings account grow by the interest earned.
There are three savings account schemes available:
You receive nominal interest per annum, which will be compounded annually.
You receive nominal interest per annum, which will be compounded monthly.
You receive nominal interest per annum, which will be compounded continuously.
Which savings account scheme yields you most value?
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