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  2. There are two competitors in the local banking zone. Bank ABC provides 11.2% compounded monthly on its time deposit. Bank XYZ provides 11.4% compounded semiannually on its time deposit. If you want to make deposit, which bank should you choose? Explain logically with the calculation.

There are two competitors in the local banking zone. Bank ABC provides 11.2% compounded monthly on its time deposit. Bank XYZ provides 11.4% compounded semiannually on its time deposit. If you want to make deposit, which bank should you choose? Explain logically with the calculation.

There are two competitors in the local banking zone. Bank ABC provides 11.2% compounded monthly on its time deposit. Bank XYZ provides 11.4% compounded semiannually on its time deposit. If you want to make deposit, which bank should you choose? Explain logically with the calculation.


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