Question
Which bank investment earns the investor the most money? INVESTMENT A: Amount deposited = $5000 Interest rate = 4.3% Time invested = 3 years Compounded
Which bank investment earns the investor the most money?
INVESTMENT A: Amount deposited = $5000 Interest rate = 4.3% Time invested = 3 years Compounded quarterly | INVESTMENT B: Amount deposited = $5000 Interest rate = 5.6% Time invested = 2 years Compounded continuously |
Both investments earn the exact same amount under the given terms.
Investment B earns more. Investment B earns $5,592.56 vs. Investment A earning $5000.01.
Investment B earns more. Investment B earns $5,592.56 vs. Investment A earning $5304.43.
Investment A earns more. Investment A earns $5,687.14 vs. Investment B earning $5,592.56.
Investment A earns more. Investment A earns $5,684.54 vs. Investment B earning $5,592.56.
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