sunshine97 sunshine97
  • 26-12-2016
  • Mathematics
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Gabriel is comparing three investment accounts offering different rates.

Account A: APR of 2.85% compounding monthly
Account B: APR of 2.98% compounding quarterly
Account C: APR of 2.90% compounding daily

Which account will give Gabriel at least a 3% annual yield?

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Aliwohaish12
Aliwohaish12 Aliwohaish12
  • 26-12-2016
APR=(1+i/n)^n)-1
=(1+0.0298/4)^4)-1
=0.03*100=3%
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