Anthony is deciding between different savings accounts at his bank. he has four options, based on how frequently interest compounds. which should he choose if he wants the best rate of return on his interest?

hi your question lacks the required options here is the complete question

Anthony is deciding between different savings accounts at his bank. He has four options, based on how frequently interest compounds. Which should he choose if he wants the best rate of return on his interest?

Annual Compounding

Semi-Annual Compounding

Monthly Compounding

Daily Compounding

Answer : Daily compounding

Explanation:

For Anthony to get the best rate of return in his savings account he should choose the savings account that offers the daily compounding interest on savings accounts. this is because savings accounts with daily compounding offer interest on the the interest been earned on the savings accounts on the daily basis hence the rate of return is faster than other kinds of compounding.

compound interest savings accounts yield the highest rate of interest when compared to other kinds of savings account.

solution:

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