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?

Question

2 May, 10:53

+3

Answers (2)

Know the Answer?

Lillianna · Answer 1

APR = (1+i/n) ^n) - 1

= (1+0.0298/4) ^4) - 1

=0.03*100=3%

Ibrahim Bartlett · Answer 2

The answer is opposed to a sequence. Good Luck!

Gabriel is comparing three investment accounts offering different rates.Account A: APR of 2.85% compounding monthlyAccount B: APR of 2.98% compounding quarterlyAccount C: APR of 2.90% compounding dailyWhich account will give Gabriel at least a 3% annual yield?