Question: If you have $ 1 0 , 0 0 0 that you want to save for 3 years, which of the following banks would you

If you have $10,000 that you want to save for 3 years, which of the following banks would you choose to save the money?
Bank A pays 6% per year
Bank B pays 3% every six months
Bank C pays 9% every 18 months
Bank D pays 0.4% per month
Show calculation steps and explain your decision.
If you have $10,000 that you want to save for 3

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

Exercise 13-2 (Algo) Dropping or Retaining a Segment [LO13-2] The Regal Cycle Company manufactures three types of bicycles-a dirt bike, a mountain bike, and a racing bike. Data on sales and expenses...

Q:

QUESTION 1 10 points Save Answer Using the table below, what is the Unemployment Rate (u) for this economy? Employed 654 Unemployed 105 Not in the Labor Force 132 Round your answer to two (2) decimal...

Q:

Save & Exit Answer each of the following independent questions. Alex Meir recently won a lottery and has the option of receiving one of the following three prizes: (1) $80,000 cash immediately. (2)...

Q:

Spotlighting opportunities for business in Africa and strategies to succeed in the world's next big growth market Acha Leke @achaleke - Senior Partner and Chairman of Africa Region, McKinsey &...

Q:

Project Description: You are the executive assistant to the director of sales at B-Trendz, Inc., a trendy retail store that has locations in only ten states. The company is considering branching into...

Q:

I need some double checking on my work just to make sure I'm right. Thank you so much! Exercise 5-10 (Algo) Future and present value [LO5-3, 5-7, 5-8] Answer each of the following independent...

Q:

I tried to directly add the excel file but it said my question was too long. Please help! thank you!! Project Description: You are the executive assistant to the director of sales at B-Trendz, Inc.,...

Q:

e a. What effect would each of the following events likely have on the level of nominal interest rates? 1. Households dramatically decrease their savings rate. This action will the supply of money,...

Q:

GE Company Ticker Years Yield 1 0.767 MS 1 1.816 WFC 1.25 0.797 TOTAL 1.75 1.378 TOTAL 3.25 1.748 GS 3.75 3.558 MS 4 4.413 JPM 4.25 2.31 4.75 3.332 RABOBK 4.75 2.805 TOTAL 2.069 MS 5 4.739 AXP 5...

Q:

QUESTION 1 10 points Save Answer The Supply and Demand curves below represent the market for butter. Anticipating low Demand in the next few weeks, stores begin pulling butter off the shelves NOW...

Q:

Clifford Clark is a recent retiree who is interested in investing some of his savings in corporate bonds. His financial planner has suggested the following bonds: Bond A has a 9% annual coupon,...

Q:

Section 4-Budgeting (25 points) 1. Calculate the percentage change for each of the following categories of revenues and expenses for FY 2010 through FY 2014. 2. Calculate the average percentage...

Q:

A summary of changes in the capital accounts of the Katie, Lynda, and Molly partnership for 2011, before closing partnership net income to the capital accounts, is as follows: REQUIRED: Determine the...

Q:

Revised booklet.pdf Assignment 3.pdf X + Create Sign in Edit . Convert E-Sign Find text or tools Q A The approved 2020 Operating Budget for XYZ Ltd. Is provided below, along with actual results for...

Q:

CT Corp Comprehensive Question Canadian Tire Corporation, Limited (Canadian Tire) is a family of companies that includes a retail segment and a financial services division, among others. The retail...

Q:

=+professionalism and competency in handling global HR issues?

Q:

=+4 What actions would you suggest to HR managers in order to increase their

Q:

=+3 In what ways can an MNE improve or change its approach to IHRM?