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You have $5,000 that you want to use to open a savings account. You have found five different accounts that are acceptable to you. All
You have $5,000 that you want to use to open a savings account. You have found five different accounts that are acceptable to you. All you have to do now is determine which account you want to use so that you can earn the highest rate of interest possible. Circle the account you would choose given the annual percentage rates quoted by each bank.
Account | Terms of the Account |
|
A | 3.79% compounded annually |
|
B | 3.77% compounded semi-annually |
|
C | 3.75% compounded weekly |
|
D | 3.68% compounded monthly |
|
E | 3.65% compounded daily |
|
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