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Which one of the following deposit plans will produce the highest savings back-up to buy an investment property for $500,000 after 4 years from today?
Which one of the following deposit plans will produce the highest savings back-up to buy an investment property for $500,000 after 4 years from today?
(a) Deposit today $300,000 for which bank will provide 12% interest, compounded monthly
(b) Deposit $90,000 at the end of each year where the bank will pay 14% interest;
(c) Deposit $80,000 at the beginning of each year where the bank will pay 15% interest;
(d) Deposit $7,500 at the end of each month where the bank will pay 15% interest;
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