Which do you prefer: a bank account that pays 6% per year (EAR) for three years or:
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Question:
Which do you prefer: a bank account that pays 6%
per year (EAR) for three years or:
a. An account that pays 3% every six months for threeyears? b. An account that pays 9% every 18 months for threeyears? c. An account that pays 0.6% per month for threeyears?
If you deposit $ 1 into a bank account that pays 6% per year for threeyears, you will have ??????
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