Mathematics · Compound Interest
A bank offers the following options to a customer for interest on fixed deposits. Which option will be the most beneficial to the customer?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 17% per annum compounded monthly
- 28% per annum compounded quarterly
- 39% per annum compounded half-yearly
- 410% per annum compounded yearly✓
Correct answer
10% per annum compounded yearly
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