Which savings account is your choice? Why?

Your wealthy Uncle Boris has given you $80,000. However, he insists that you wait for 5 years to claim any money. In the meantime, it will accrue interest in one of three savings accounts. Each account has the same fixed interest rate, but in one account the interest will be compounded continuously, in another monthly, and in another daily. The choice is up to you.

Answer rating: 100% (QA)

I would choose the savings account with continuous compoundingThis is because continuous compounding ... View the full answer