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Business, 12.03.2020 17:29 tobyfoerst

Which do you prefer: a bank account that pays 4.4 % per year (EAR) for three years or a. An account that pays 2.2 % every six months for three years? b. An account that pays 8.3 % every 18 months for three years? c. An account that pays 0.36 % per month for three years? (Note: Compare your current bank EAR with each of the three alternative accounts. Be careful not to round any intermediate steps less than six decimal places.)

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