Which alternative should to choose for a savings account
A bank offers you two alternative interest schedules for a savings account of $100,000 locked in for 3 years: ( a ) a monthly rate of 1%; ( b ) an annually, continuously compounded rate ( rcc ) of 12%. Which alternative should you choose?
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A bank offers you two alternative interest schedules for a savings account of $100,000 locked in for 3 years. Which alternative should you choose?
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