Which bank should you choose in given case

Assignment Help Finance Basics

Reference no: EM131964451

Question: Your current bank is paying a 6.25% annual simple interest rate with monthly compounding. You can move your money to Harris Bank that pays 6.25% annual compound interest rate, or to First Chicago Bank, which pays 6.8% compounded semiannually. To maximize your return, which bank should you choose?

Reference no: EM131964451

Questions Cloud

What price will cc choose as a function of your price : If you build a large plant, what price will you choose for your cement (and why)? What price will CC choose as a function of your price (and why)?

How many years will it take to reach goal : You have $64,633.35 in a brokerage account, How many years will it take to reach your goal?

At what amount should fly-bynight record the lease liability : Generally accepted accounting principles require this lease to be recorded as a liability for the present value of scheduled payments.

Calculate the project NPV using the XNPV formula : Econ 348: Natural Resource and Energy Economics Problem. Calculate the project's NPV using the XNPV formula (calculates NPV that includes dates of actual costs)

Which bank should you choose in given case : Your current bank is paying a 6.25% annual simple interest rate with monthly compounding. You can move your money to Harris Bank that pays 6.25% annual compound

How did royal government expand in power : What changed in the rural economy between ca. 950 and ca. 1300? How did Royal government expand in power between 1150 and 1300?

Analyze key elements of training and development : Analyze key elements of training and development geared toward improving the performance of the specific small business for which you are consulting

What is the risk tolerance level of the crusoes family : The Crusoes family currently has a saving of $1, 415,000 and is thinking about retiring in 4 years. The family right now has an after tax income of $135,000.

Describe two methods of project evaluation other than npv : The Jordan Company has the opportunity to invest in new production line equipment, which would have a working lifetime of 10 years.

User Account

All Pages