Article View: aus.mathematics
Article #81Re: Interest rates
From: Ken Pledger
Date: Sun, 26 Oct 2008 20:20
Date: Sun, 26 Oct 2008 20:20
16 lines
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2124 bytes
In article <6mjat6Fh43agU1@mid.individual.net>,
"Laurence" <eireneus@xyahoox.com.au> wrote:
> Could someone tell me which produces the highest return?
>
> 6.1% compounded monthly or
> 8% compounded annually.
> Laurence
(1 + (0.061)/12)^12 = 1.0627...
so the first alternative amounts to roughly 6.3 % per annum. You'd
definitely do better to go for the second.
Ken Pledger.
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