Question

Tom says he is comparing banks to see what interest rates they offer on savings accounts. Explain how Tom should use the information he gets to decide which bank to open a savings account with.

Answer 1

Finding the factor for selecting a bank to open a saving account.
Tom should choose the bank that offers highest rate of interest because principle amount and time for every is same so it depends on rate of interest.
Hence, higher the rate of interest more money tom would earn.