Question

Bank 1 is offering interest rate of 8.4% (compounds semiannually) on fixed deposits. Bank
2 is offering interest rate of 8.3% (compounds monthly) on fixed deposits. An investor
invested amount of $15,000 for five years in the bank that is offering highest effective
annual rate. What is the accumulated amount at the end of five years?
a. $22,683
b. $22.634
c. $22.451
d. $22.982
​

Answer 1

Answer:

b

k

k

k

k

k

k

Explanation:

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