Answered

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?

Verified Answer :

Aliwohaish12

APR=(1+i/n)^n)-1
=(1+0.0298/4)^4)-1
=0.03*100=3%

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