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17 April, 17:13

Gabriel is comparing three investment accounts offering different rates.

Account A: APR of 2.85% compounding monthly

Account B: APR of 2.98% compounding quarterly

Account C: APR of 2.90% compounding daily

Which account will give Gabriel at least a 3% annual yield?

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Answers (2)
  1. 17 April, 17:33
    0
    APR = (1+i/n) ^n) - 1

    = (1+0.0298/4) ^4) - 1

    =0.03*100=3%
  2. 17 April, 17:59
    0
    The answer is opposed to a sequence. Good Luck!
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