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What are the aprs for the three investment options

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Reference no: EM132482261

There are three investments you are considering:

Investment 1: Invest in Supreme Bank that offers a monthly interest rate of 1.5% compounded monthly.

Investment 2: Invest in High Growth Bank that guarantees it will pay 18.5% compounded annually.

Investment 3: Invest in Super High Return Bank that offers a quarterly interest rate of 4.4% compounded quarterly.

a. What are the APRs for the three investment options?

b. Which investment options should you choose?

Reference no: EM132482261

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