Question

1. Suppose that you make a fixed deposit of $1,000 in Bank X and $500 in Bank Y. The value of each investment at the end of each subsequent year is provided in the table. Year Bank X ($) Bank Y ($) 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 Which of the two banks provides a better return over this time period? What is the average return in each bank over the 10 years? IN EXCEL

Answer 1