Question: PLEASE SHOW WHY ANSWER B IS CORRECT Mike and Chris have decided to buy a beach house on Antiqua once they have earned enough money

PLEASE SHOW WHY ANSWER B IS CORRECT

Mike and Chris have decided to buy a beach house on Antiqua once they have earned enough money to afford vacations. They decide to start saving money now so that they will have enough for a $60,000 down payment in 4 years. Which of the following accounts will earn you the most money?

A)A savings account at Bank A which will pay 1.13% every 3 months

B) A savings account at Bank B which will pay 2.34% every 6 months

C)A savings account at Bank C which will pay 4.7% per year

D)A savings account at Bank D which will pay 9.4% every two years

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