An investment banker is responsible for investing a customer's money into the greatest interest earning account. The banker has the following options for his customer's investment:
Account A:
interest rate = 8%
term of investment = 8 years
interest compounded annually Account B:
interest rate = 7%
term of investment = 10 years
interest compounding continuously
Which account, A or B, will earn the customer the greatest amount of interest on his $50,000 investment? In your final answer, include all of your calculations.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “An investment banker is responsible for investing a customer's money into the greatest interest earning account. The banker has the ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
If y equal 6 what is 2y
Answers (2)
How to find height of right triangle with hypotenuse equaling 2 and one angle is 22.5?
Answers (1)
George found 48 nickels and dimes on the ground. They totaled $4.40 in value. Write two equations that express this.
Answers (1)
The position of a particle s (t) = 3sin1/2t+1. So what is the average velocity of the particle for [0,3pi/2]?
Answers (1)
Don James wants to invest $55,000 to earn $6260 per year. he can invest in B-rates bonds paying 14% per year or in a certificate of Deposit (CD) paying 8% per year.
Answers (1)
New Questions in Mathematics
Solids X and Y are similar. X has volume of 64 cm3 Y has volume of 729 cm3 The surface area of X is 208 cm2 Work out the surface area of Y.
Answers (1)
Which is greater 1.25 or 12.5
Answers (2)
I know the 90 percent number so how do i find the 100 perent number
Answers (2)
The sum of three consecutive numbers is 414. What is the 2nd number?
Answers (2)
Multiples of 8 and 2
Answers (2)