Louisiana State University, Shreveport FIN FIN 701 You have $2500 to deposit into a savings account. The 5 banks in…
You have $2500 to deposit into a savings account. The 5 banks in your area offer the following rates. In which bank should you deposit your savings? Why?
A. Bank A: 3.75% interest compounded annually
B. Bank C: 3.70% compounded semi-annually
C. Bank D: 3.67% compounded continuously
D. Bank B: 3.69% compounded monthly
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