Mr. James has $300 000 in a savings account paying annual compound

Mr. James has $300 000 in a savings account paying annual compound

Subject: Business    / Finance
Question

Mr. James has $300 000 in a savings account paying annual compound interest of 5%. He intends to keep it in that account for 3 years after which he will move it to JMMB’s long-term fund which pays interest of 12% per annum.