Question: 1 2 - 1 5 . Melvin Indecision has difficulty deciding whether to put his savings in Mystic Bank or Four Rivers Bank. Mystic offers

12-15. Melvin Indecision has difficulty deciding whether to put his savings in Mystic Bank or Four Rivers Bank.
Mystic offers 10% interest compounded semiannually. Four Rivers offers 8% interest compounded quar-
terly. Melvin has $10,000 to invest. He expects to withdraw the money at the end of 4 years. Which bank
gives Melvin the better deal? Check your answer. LUI2-1(3)
12-15. Melvin Indecision has difficulty deciding whether to put his savings

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