Question

$15,000 to invest and want to keep your money invested for 5 years. You are considering the following investment options. Choose the investment option that will earn you the most money.

A. 1.89% compounded monthly
B. 1.975% compounded quarterly
C. 1.99% compounded annually d.
D. 3.25% simple interest

Answer 1

1) 15000*(1+0.0189)^(5*12) = 46130.16346

2) 15000*(1+0.01975)^(5*3) = 20113.9316

3) 15000*(1+0.0199)^5 = 16553.0954

4) 15000*(1+0.0325*5) = 17437.5

The first one is the best option.