Question: You plan to put $17,000 into a special saving account and are considering 4 banks. Which bank should you select, given their interest rate

You plan to put $17,000 into a special saving account and are

You plan to put $17,000 into a special saving account and are considering 4 banks. Which bank should you select, given their interest rate mentioned below: Bank 1: 6 percent, compounded annually Bank 2: 5.9 percent, compounded daily Bank 3: 6.3 percent, compounded weekly Bank 4: 6.3 percent, compounded quarterly (Note: Set your calculator or Excel to at least 2 decimal numbers to avoid rounding errors)

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