solving business math problems
dexia investment limited intends to keep $2,000,000 in a bank for 5 years so that they can use the money to buy new machine the bank operates three different savings account as follows
ipsa savings account pays 7% interest compounded annually
irsa savings account pays 6% compounded semi annually
igsa savings account pays 7% interest compounded quarterly
as a financial manager determine the future value of the lump sum for each savings account and advise dexia investment limited