Carl and Florence Lyles have the option of investing their $20,000 in a four-year CD with 5.15% interest compounded annually, 5%
interest compounded daily, 5.25% interest compounded monthly, or 5.5% interest compounded quarterly. Which would be the best investment? a) 5% compounded daily b) 5.5% compounded quarterly c) 5.25% compounded monthly d) 5.15% compounded annually
