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Paying interest at the annual rate

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Currently, Robert has $300,000 to invest for 18 months. He has two options to choose from:

  1. Invest the money in a savings account earning interest at the annual rate of 4% compounded monthly.
  2. Invest the money in a certificate of deposit (CD) paying interest at the annual rate of 4.1% compounded quarterly;

Which is the better choice?

Reference no: EM133175350

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