Mr. Doe is trying to decide whether to put his money in the XYZ Bank or the ABC Bank. The XYZ Bank pays 6% per annum interest, compounded annually; the ABC Bank pays 5% per annum interest, compounded...

Mr. Doe is trying to decide whether to put his money in the XYZ Bank or the ABC Bank. The XYZ Bank pays 6% per annum interest, compounded annually; the ABC Bank pays 5% per annum interest, compounded quarterly. Mr. Doe expects to keep his money in the bank for 5 years. Which bank should he select?