Solved: Bank 3 offers you a rate of 875 compounded semi-annually, Accounting Basics

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Bank 3 offers you a rate of 875 compounded semi-annually

1. You want to invest your money. Bank 1 offers you a rate of 8.5% compounded quarterly. Bank 2 offers you a rate of 8.2% compounded daily. Bank 3 offers you a rate of 8.75% compounded semi-annually. Bank 4 offers you an effective rate of 8.85%. Which bank would you choose?

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Accounting Basics: Bank 3 offers you a rate of 875 compounded semi-annually

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