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Compute total interest at end of year four and the fv value

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Reference no: EM132985044

Your client asked for your financial advice. His current fund is P500,000 and looking for a bank or any investment package that would provide him the highest value for his current fund at the end of year 4. The following are the options:

Bank A: fixed deposit for 4 straight years at 6% simple interest per annum.
Bank B: Compound interest of 4% for 4 straight years.
Bank C: Compound interest of 4% at years 1 and 2 and 5% compound interest for years 3 and 4.

Problem 1. Compute total interest at end of year 4 and the FV value at the end of year 4. What is your recommendation?

Reference no: EM132985044

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