Answered step by step
Verified Expert Solution
Question
1 Approved Answer
please answer fast in an hour please or less I will upvote ! Question 25 points Afriend wants to deposit 52000 into a savings account.
please answer fast in an hour please or less I will upvote ! Question 25 points Afriend wants to deposit 52000 into a savings account. She goes to two banks and is offered competing interest rates for the account. Bank 1 has a 10 interest rate, and compound once annually. Bank 2 has an interest rate, but compounds monthly. Use the following annually compounded interest formula A-P(1+r)* where is the accumulated amount, Pis the principal amount deposited, ris the annual interest rate (as a decimal) and testhe number of years. For accounts that compound more frequently than once annually, you must use A - P(1+1/m) where m is the number of times the account compounds per year. Use fprintf to create a table for all account balances for the first five years for each account so that your friend can compare and decide which one to selective year, compound monthly into annunal amount, annual amount) Attach File Browse My Computer Browse Content Collection Question 2 of Moving to another question will save this response
please answer fast in an hour please or less I will upvote !
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started