Mathematics, 05.06.2021 01:00 kiyomi58
There are three banks that are trying to decide between to put your money in. You have
worked really hard and have saved $9300 dollars. You want to keep it in the CD account that
will earn you the most interest.
Bank 1 has an offer of a .08% interest rate compounding monthly for 3 years.
Bank 2 has an offer of a .08% interest rate compounding quarterly for 4 years.
Bank 3 has an offer of a 10% interest rate compounding continuously for 3 years.
How much money will you have in each account given the terms above?
Answers: 2
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There are three banks that are trying to decide between to put your money in. You have
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