1. Gregory may choose between two accounts in which to invest $5000. Account A offers 2.3% annual interest compounded monthly. Account B offers continuous compound interest at the same interest rate. Greg plans to leave his investment untouched (no further deposits and no withdrawals) for 10 years.

(a) Which account will yield the greater balance at the end of 10 years? ________________________________________________________________________________

(b) How much more money does Greg earn by choosing this more profitable account?

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(c) Suppose Greg wanted to double his investment in total money - $10000. How long would he need to leave it in his account at 2.3% compounded monthly to have a total future value of $10000.

1. Gregory may choose between two accounts in which to invest $5000. Account A offers 2.3% annual interest compounded monthly. Account B offers continuous compound interest at the same interest rate. Greg plans to leave his investment untouched (no further deposits and no withdrawals) for 10 years. (a) Which account will yield the greater balance at the end of 10 years? (1 point) (b) How much more money does Greg earn by choosing this more profitable account? (5 points) (c) Suppose Greg wanted to double his investment in total money - $10000. How long would he need to leave it in his account at 2.3% compounded monthly to have a total future value of $10000