Dwight wants to invest $14,000 into a savings account. Bank A offers an account with 3.8% interest compound quarterly. Bank B offers an account 3.5% interest compound daily. Which bank should he choose if he wants to keep the money invested for 8 years?

Question

03-05-2021
Mathematics

Answered

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Dwight wants to invest $14,000 into a savings account. Bank A offers an account with 3.8% interest compound quarterly. Bank B offers an account 3.5% interest compound daily. Which bank should he choose if he wants to keep the money invested for 8 years?

Sagot :

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