17. You invest $4000 in an account to save for college.
a. Option 1 pays 5% annual interest compounded semi-annually. What would
be the balance in the account after 2 years?
b. Option 2 pays 4.5% annual interest compounded continuously. What would
be the balance in the account after 2 years?
c. At what time t (in years) would Option 1 give you $100 more than Option 2?
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Home » Mathematics » 17. You invest $4000 in an account to save for college. a. Option 1 pays 5% annual interest compounded semi-annually. What would be the balance in the account after 2 years? b. Option 2 pays 4.5% annual interest compounded continuously.