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Two accounts each begin with a deposit of $4000. Both accounts have rates of 4.8%, but one account compounds interest once a year while the
Two accounts each begin with a deposit of $4000. Both accounts have rates of 4.8%, but one account compounds interest once a year while the other account compounds interest continuously. Make a table that shows the amount in each account and the interest earned after one year, five years, ten years, and 20 years. Click the icon to view some finance formulas. In the provided formulas, A is the balance in the account after t years, P is the principal investment, r is the annual interest rate in decimal form, n is the number of compounding periods per year, and Y is the investment's effective annual yield in decimal form. A=P(1+nr)ntP=(1+nr)ntAA=PertY=(1+nr)n1
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