Suppose that you make a fixed deposit of $1,000 in Bank X and $500 in Bank Y. The value of each investment at the end of each subsequent year is provided in the table.
$$\begin{array} { l | c | c }
\text { Y ear } & \text { Bank X } ( \$ ) & \text { Bank Y } ( \$ ) \
\hline 1 & 1,320 & 560 \
2 & 1,510 & 620 \
3 & 1,750 & 680 \
4 & 2,090 & 740 \
5 & 2,240 & 790 \
6 & 2,470 & 820 \
7 & 2,830 & 870 \
8 & 3,220 & 910 \
9 & 3,450 & 950 \
10 & 3,690 & 990
\end{array}$$
Which of the two banks provides a better return over this time period?

Question

Suppose that you make a fixed deposit of $1,000 in Bank X and $500 in Bank Y. The value of each investment at the end of each subsequent year is provided in the table.
​ $$\begin{array} { l | c | c } 
\text { Y ear } & \text { Bank X } ( \$ ) & \text { Bank Y } ( \$ ) \
\hline 1 & 1,320 & 560 \
2 & 1,510 & 620 \
3 & 1,750 & 680 \
4 & 2,090 & 740 \
5 & 2,240 & 790 \
6 & 2,470 & 820 \
7 & 2,830 & 870 \
8 & 3,220 & 910 \
9 & 3,450 & 950 \
10 & 3,690 & 990
\end{array}$$ ​
Which of the two banks provides a better return over this time period?

Quizplus · Accepted Answer

The Answer of Suppose that you make a fixed deposit of $1,000 in Bank X and $500 in Bank Y. The value of each investment at the end of each subsequent year is provided in the table.
​ $$\begin{array} { l | c | c } 
\text { Y ear } & \text { Bank X } ( \$ ) & \text { Bank Y } ( \$ ) \
\hline 1 & 1,320 & 560 \
2 & 1,510 & 620 \
3 & 1,750 & 680 \
4 & 2,090 & 740 \
5 & 2,240 & 790 \
6 & 2,470 & 820 \
7 & 2,830 & 870 \
8 & 3,220 & 910 \
9 & 3,450 & 950 \
10 & 3,690 & 990
\end{array}$$ ​
Which of the two banks provides a better return over this time period?

Suppose That You Make a Fixed Deposit of $1,000 in Bank