Question: You are looking for a safe place to put $ 2 5 , 0 0 0 for one year. You go online and find that
You are looking for a safe place to put $ for one year. You go online and find that three banks are offering the following rates for CDs Find the effective rate for each to determine which would earn you the most interest at the end of one year.
Bank A continuously
Bank B quarterly
Bank monthly
Round your answers to three decimal places.
Bank A offers an effective annual rate of
Bank offers an effective annual rate of
Bank offers an effective annual rate of
Bank offers the most interest at the end of a year.
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