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You have $10,000 to deposit for five years. Which bank should you select?                           If you...

  1. You have $10,000 to deposit for five years. Which bank should you select?                          

  1. If you deposit $10,000 in ABC Bank that pays simple interest of 4%, what is the total balance in the account after 5 years?

                                        

  1. Say you deposit $10,000 in XYZ Bank that pays interest of 4%, compounded annually. What is the total balance in the account after 5 years?
  1. Which bank did you select and why?
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