Question

Geoff has had, for a long time, a savings account with an annual interest rate of 3.65%. Now, however, the bank wants to change his rate to 0.3% monthly. Should Geoff accept this change?

Answer 1

Answer:

No

Step-by-step explanation:

He will lose 0,05% of the profit

12 x 0,3 = 3,6

3,6 - 3,65 = -0,05