Question: You have $10,000 which you want to invest in a term deposit account for 2 years. Bank A offers you 12% interest (compounded monthly); Bank

You have $10,000 which you want to invest in a term deposit account for 2 years. Bank A offers you 12% interest (compounded monthly); Bank B offers 12.8% (compounded quarterly); Bank C offers 13.2% (compounded half yearly) and Bank D offers 13.5% (compounded yearly). Which bank will you invest in?

a. BANK A

b. BANK B

c. BANK C

d. BANK D

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