You Are Looking to Invest Some Money and Are Comparing

Multiple Choice

You are looking to invest some money and are comparing bank rates. Bank A has a quoted rate of8.1% compounded semi-annually, while Bank B has a quoted rate of 8% compounded monthly. Which bank provides the better investment opportunity?

A) Cannot be determined with the limited information provided
B) Bank B
C) They have the same equivalent rates
D) Bank A