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You have 1,000 to deposit in a savings account for 1 year. you can get a passbook savings account drawing 7.75% interest compounded daily or
You have 1,000 to deposit in a savings account for 1 year. you can get a passbook savings account drawing 7.75% interest compounded daily or a certificate of deposit paying 8% compounded quarterly or a savings bond paying 8.25% compounded annually. which alternative should you take?
a) 7.75% compounded continuously b) 8% compounded quarterly c)8.25 compounded annually D) all of the above have equal annualized yields
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