Yasser has two options for depositing QR75,000 for 3 years with two banks. The first choice is a time deposit account in CBQ by compound annual interest rate is 1.25% credited on account monthly. The second choice is a time deposit account in QIB by compound annual interest rate is 3.25% credited on account every three time every year. 

Which option is the best for Yasser? Why?

Jaber has three options for depositing QR38,000 for 4 years with two banks. The first choice is in IBQ by compound annual interest rate 3.75% credited on account 4 times every year. The second choice is in QIB by compound annual interest rate 4.5% credited on account 3 times every year. The third choice is in QNB by compound annual interest rate 5% credited on account every six months. 

Which option is the best for Jaber? Why?

Turki opened a time deposit account in QIB. He deposited QR185,000. The compound annual interest rate is 2.75% yearly credited on account 2 time every year. Calculate the balance and interest value for 4 months.

Answer rating: 100% (QA)

To determine which option is the best for Yasser and Jaber we need to calculate the future values of their deposits with each bank under the given int... View the full answer