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15 November, 16:14

A. Bank A offers a CD rate of 7% for 5 years.

B. Bank B offers a CD rate of 5% for 5 years.

C. Bank C offers a CD rate of 6% for 5 years with a $10 gas card as a perk.

Under which bank would you earn more interest on your money?

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  1. 15 November, 16:40
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    A) Bank A offers a CD rate of 7% for 5 years.

    Explanation:

    Bank A offers the highest interest rate, 7% for five years.

    Bank B offers the lowest interest rate, so that option should be eliminated.

    Bank C offers a 6% interest rate for 5 years plus a $10 gas card. The gas card is just a perk with a very low value. For example, if you deposit $200 in bank A you will earn $10.20 more than if you deposited the money in bank C, and $200 is a very small amount of money for a business.
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Home » Business » A. Bank A offers a CD rate of 7% for 5 years. B. Bank B offers a CD rate of 5% for 5 years. C. Bank C offers a CD rate of 6% for 5 years with a $10 gas card as a perk. Under which bank would you earn more interest on your money?
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