You Have $2,500 That You Want to Use to Open

question 40

Multiple Choice

You have $2,500 that you want to use to open a savings account. You have found five different accounts that are acceptable to you. All you have to do now is determine which account you want
To use such that you can earn the highest rate of interest possible. Which account should you use
Based upon the annual percentage rates quoted by each bank?
Account A: 3.75%, compounded annually
Account B: 3.70%, compounded monthly
Account C: 3.70%, compounded semi-annually
Account D: 3.65%, compounded continuously
Account E: 3.66%, compounded quarterly

• A) Account A
• B) Account B
• C) Account C
• D) Account D
• E) Account E

---

Definitions:

Adult Learning

The practice of engaging adults in structured and deliberate learning activities, emphasizing the importance of how adults learn differently from children due to their vast experiences.

Self-Directed

A learning approach where individuals take charge of their own educational process, setting goals, materials, pace, and evaluation.

Problem Centred

Focused on identifying and resolving issues or challenges in a specific context or scenario.

Core Self-Evaluation

A personality trait concept that reflects fundamental assessments individuals make about their self-worth and capabilities.