I have a question You have $5,200 to deposit. Regency Bank offers 9 percent per year compounded
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Question:
I have a question
You have $5,200 to deposit. Regency Bank offers 9 percent per year compounded monthly (.75 percent per month), while King Bank offers 9 percent but will only compound annually. |
Required: |
How much will your investment be worth in 17 years at each bank?(Enter rounded answers as directed, but do not use rounded numbers in intermediate calculations.Round your answers to 2 decimal places (e.g., 32.16).) |
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