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11-12-2021
Mathematics

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Denise needs to decide which bank is giving her the best deal. She has $37752 and plans to leave the money for 3 years. Bank #1 can give her 2.1% interest compounded monthly Bank #2 can give her 5.4% interest, compounded semi- annually. Which bank should she choose?

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jjodlask jjodlask

11-12-2021

Answer:

bank 2 is best choice

bank one in 3 years at 2.1 monthly you would have 40,325.26 in the bank

bank 2 in 3 years at 5.4 semiannual you would have 44,295.81

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