Problem
Suppose you are considering investing $1,000 in one of the following bank CDs (certificate of deposit).
1. The Fust CD will pay an interest rate of 12% year for three years.
2. The second CD will pay 18% the first year, 10% the second year, and 8% the third year. Which CD does yield the higher interest?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.