You are planning to deposit 1000 in a savings account, Financial Management

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You are planning to deposit 1000 in a savings account

You are planning to deposit $1,000 in a savings account. Account A compounds semi annually while account B compounds monthly. If both accounts have the same quoted annual rate of interest, you should choose _______________.

A. account A because it has a higher APR

B. account A because it has a higher EAR

C. account B because it is compounded more often

D. either account since both quote the same rate of interest

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Financial Management: You are planning to deposit 1000 in a savings account

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