You have $20,000 to invest and want the greatest yield from your investment after four years. You have two plans to choose from: Plan A – 5.9% compounded monthly or Plan B – 6% compounded quarterly (a) Which plan would you take to achieve this? (b) How much will you have at the end of four years?

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You have $20,000 to invest and want the greatest yield from your investment after four years. You have
two plans to choose from:
Plan A – 5.9% compounded monthly or Plan B – 6% compounded quarterly
(a) Which plan would you take to achieve this?
(b) How much will you have at the end of four years?

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