Mrs. Enriquez would like to invest 150,000 pesos for 10 years. She went to four known banks and inquired on the best investment plan they could offer given her desired investment amount. The banks provided the following schemes: ... BANK A ΒANK BANK C BANK D Principal of 150,000 | Principal of 150,000 | 15,000 pesos annual pesos with 1.31% interest 1,250 pesos monthly payment done at the end of pesos with 1.31% interest compounded annually for 10 payment done at the end of every year, for 10 years with 1.35% interest compounded monthly for 10 years. every month, for 10 years with 1.45% interest compounded monthly. compounded annually. years. Which of the banks offer the highest interest earned? Express your answers as Bank A or Bank B or Bank C or Bank D.
Mrs. Enriquez would like to invest 150,000 pesos for 10 years. She went to four known banks and inquired on the best investment plan they could offer given her desired investment amount. The banks provided the following schemes: ... BANK A ΒANK BANK C BANK D Principal of 150,000 | Principal of 150,000 | 15,000 pesos annual pesos with 1.31% interest 1,250 pesos monthly payment done at the end of pesos with 1.31% interest compounded annually for 10 payment done at the end of every year, for 10 years with 1.35% interest compounded monthly for 10 years. every month, for 10 years with 1.45% interest compounded monthly. compounded annually. years. Which of the banks offer the highest interest earned? Express your answers as Bank A or Bank B or Bank C or Bank D.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Mrs. Enriquez would like to invest 150,000 pesos for 10 years. She went to four known banks
and inquired on the best investment plan they could offer given her desired investment
amount. The banks provided the following schemes:
BANK A
BANK B
BANK C
BANK D
Principal of 150,000 Principal of 150,000| 15,000 pesos annual
payment done at the
end of every year,
for 10 years with
1.35% interest
pesos with 1.31%
interest
1,250 pesos
monthly payment
pesos with 1.31%
interest
done at the end of
compounded
annually for 10
compounded
monthly for 10
every month, for 10
years with 1.45%
interest
compounded
annually.
years.
years.
compounded
monthly.
Which of the banks offer the highest interest earned? Express your answers as Bank A or
Bank B or Bank C or Bank D.
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Blank 1 Add your answer
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