Question
You want to invest your $100,000 lottery winnings. You can either place it in a 4% simple interest GIC or a 4% compounding monthly investment.
You want to invest your $100,000 lottery winnings. You can either place it in a 4% simple interest GIC or a 4% compounding monthly investment.
a.Based only on investment characteristics, which option is best (would make the most money), and why?
b.How much money will you have after one year with the best option? Show calculations.
c.How much more interest will you make with the best option when compared with the other option? Show calculations.
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Trigonometry A Unit Circle Approach (Subscription)
Authors: Michael Sullivan, Michael Sullivan III
11th Edition
0135229693, 9780135229699
