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Which do you prefer: a bank account that pays 9% per year (EAR) for three years or: a. An account that pays 4.5 % every
Which do you prefer: a bank account that pays 9% per year (EAR) for three years or:
a. An account that pays 4.5 % every six months for three years?
b. An account that pays 13.5% every 18 months for three years?
c. An account that pays 0.9% per month for three years? Please provided calculation for each
If you deposit $ 1$ into a bank account that pays 9% per year for three years, you will have -----------( round to five decimal places)
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