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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Authors: National Research Council, Division On Engineering And Physical Sciences, And Applications Commission On Physical Sciences, Mathematics, Board On Mathematical Sciences, Committee On Applied And Theoretical Statistics, Panel On Nonstandard Mixtures Of Distributions
1st Edition
