(Answered) Best effective rate of return

Finance

Problem: You are about to deposit $326 into one of the following savings accounts to be left on deposits for 25 years. Each bank offers an account with a different interest rate and compounding period. Assuming you want to maximize your wealth, how much money would be in the bank account that offers the best effective rate of return after 25 years? Be sure to support your response with specifics.

BANK A: 9.5% rate compounded semi annually
BANK B: 9.4% rate compounded monthly
BANK C: 9.3% rate compounded daily
BANK D: 9.2% rate compounded continuously

Enter the dollar amount and round to two decimal places

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