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How much will have in the account after three years

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Reference no: EM132494910

Question 1) You deposited $500 in a bank account that pays 6% interest compounded monthly. How much will you have in the account after 3 years if no withdrawals or additional deposits are made?

Question 2) Which of these banks offers the highest deposit annualized interest rates for a 3-year CD: Bank A - 5% compounded annually; Bank B - 4.93% compounded monthly; Bank C - 4.9% compounded continuously? Show all calculations.

Reference no: EM132494910

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