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1.Determine the future value according to the following situation: John's salary was increased last week...

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Accounting

1.Determine the future value according to the following situation: John's salary was increased last week and he is considering investing or saving it instead of spending it. He went to a branch of the State Bank and they offered him two alternatives. First they offered him a certificate of deposit that pays a semiannual interest rate of 2.5% with a maturity period of 5 years. You also have the opportunity to deposit into a savings account that pays a monthly interest rate of 1.9%. Assuming John has $10,000| available, determine which of the two options will have a greater future value at the end of 5 years.
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