FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Which bank investment earns the investor the most money? INVESTMENT A: INVESTMENT B: Amount deposited = $10,000 Amount deposited = $10,000 Interest rate = 4.7%

image text in transcribed
Which bank investment earns the investor the most money? INVESTMENT A: INVESTMENT B: Amount deposited = $10,000 Amount deposited = $10,000 Interest rate = 4.7% Interest rate = 5.1% Time invested = 8 years Time invested = 7 years Compounded quarterly Compounded continuously Investment B earns more by $21.20. Investment A earns more by $242.22. Investment A earns more by $253.03. Both investments will earn the same amount. Investment B earns more by $274.11

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Happy Retirement Fun Things To Do From Home Hobbies To Wild Freedom

Happy Retirement Fun Things To Do From Home Hobbies To Wild Freedom

Authors: Leon Simonds

1st Edition

979-8863179216

More Books

Students also viewed these Finance questions

Question

★★★★★
The state of California has a mean annual rainfall of 22 inches, whereas the state of New York has a mean annual rainfall of 42 inches (Current Results website, October 27, 2012). Assume that the...

Answered: 1 week ago

Question

★★★★★
A personal representative performs all of the following tasks in administering an estate except: a. opening an estate checking account. b. discussing the need for beneficiaries or heirs to draft or...

Answered: 1 week ago

Question

★★★★★
3. Use the concept of opportunity cost to explain the following situations. a. More people choose to get graduate degrees when the job market is poor. b. More people choose to do their own home...

Answered: 1 week ago

Question

★★★★★
Thirty patients who check out of the Rock Creek County Regional Hospital each week are asked to complete a questionnaire about hospital service. Since patients do not feel well when they are in the...

Answered: 1 week ago

Question

★★★★★
Which bank investment earns the investor the most money? INVESTMENT A: INVESTMENT B: Amount deposited = $10,000 Amount deposited = $10,000 Interest rate = 4.7% Interest rate = 5.1% Time invested = 8...

Answered: 1 week ago

Question

★★★★★
On February 1, 2021, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of $8,250,000. During 2021, costs of $2,100,000 were incurred, with...

Answered: 1 week ago

Question

★★★★★
A retrospective associational study examined the medical utilization of homeless veterans receiving treatment in a Veterans Affairs health care system (LePage, Bradshaw, Cipher, & Hooshyar, 2014). A...

Answered: 1 week ago

Question

★★★★★
Which one of the following technologies is not directly related to Big Data? Group of answer choices Spark Hadoop MapReduce OLAP

Answered: 1 week ago

Question

★★★★★
Mr. Brown just won the lottery. The lottery will pay Mr. Brown 6 annual payments, with the first payment occurring today (Year 0) and the last payment occurring 5 years from today (Year 5). Todays...

Answered: 1 week ago

Question

★★★★★
A golf ball is struck across a flat fairway at an angle of 60 with an initial speed of 135ft/s. a.). Write a set of parametric equations for the motion of the golf ball. b.). Determine how long the...

Answered: 1 week ago

Question

★★★★★
At December 31, 2023, Halifax Servicing's balance sheet showed capital asset information as detailed in the schedule below. Halifax calculates depreciation to the nearest whole month. 1 There have...

Answered: 1 week ago

Previous Question Next Question