Question
You deposit 1,000$ in a savings account for a year. Which of the following cases would yield the greatest future value? a. Interest rate 16%
You deposit 1,000$ in a savings account for a year. Which of the following cases would yield the greatest future value?
a. Interest rate 16% per year with quarterly compounding b. Interest rate 16% per year with monthly compounding c. Interest rate 16% per year with semi-annual compounding d. Interest rate 18% per year with annual compounding e. Interest rate 18% per year with semi-annual compounding f. Interest rate 18% per year with monthly compounding g. Interest rate 18% per year with quarterly compounding h. Interest rate 16% per year with annual compounding
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