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
Three posters cost $9.60. At that rate, how many posters can you buy for $48? A) 5 posters B) 15 posters C) 16 posters D) 153 posters Correct answer is B. Wht u got to do is is find out how much is one posters (9.60 / 3 = 3.
Answers (2)
Randomization in an experiment is important because it ensures that A.) the treatments have an effect on the response. B.
Answers (1)
Explain why p - > q is false, only when p is true and q is false. Let p: It is raining q: I will give you a ride home after class and the meaning of the truth for p-> q (If it is raining, then I will give you a ride home)
Answers (1)
Which Numbers are listed from least to greatest : A : 300, 0, - 200, - 250, or B : - 250, - 200, 0, 300 or C : 0, - 200, - 250, 300 or D: - 200, - 250, 300, 0?
Answers (2)
Kelsey is 5 years older than her sister misty the product of their ages in years is 84 how old is misty?
Answers (2)
New Questions in Mathematics
32.587 round to nearest tenth
Answers (2)
choosing the 6 winning lottery numbers when the numbers are chosen at random from 0 to 9 A) 1/1,000,000 B) 1/100,000 C) 1/10,000,000 D) 531,441
Answers (1)
If a dish of ice cream holds 1/4 pound, how many dishes can you get from a 4 1/2 pound carton of Dan's ice cream?
Answers (2)
2x-3 <7x+12 what is x
Answers (1)
Solve this system of equations 3x-5y=7 4x+10y=16
Answers (1)