Question

jane is having difficulty deciding wheter to put her savings in the mystic bank or in the four rivers bank. mystic offers 12% rate compaounded quarterly, and four rivers offers 14% compunded semiannually. jane has 40,000 tro invest and expects to withdraw the money at the end of five years. which is the best deal.

Answer 1

Four rivers offers a better deal because It costs Jane much less interest as opposed to Mystic bank.