This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which is the better choice: $1000 deposited for a year at a rate of 5.5% compounded monthly or at a ... (Read 194 times)

MirandaLo

  • Hero Member
  • *****
  • Posts: 538
on: Feb 2, 2020

Question 1

A mother invests $9000 in a bank account at the time of her daughter's birth. The interest is compounded quarterly at a rate of 7%. What will be the value of the daughter's account on her twentieth birthday, assuming no other deposits or withdrawals are made during this period?
◦ $50,400.00
◦ $2524.03
◦ $10,096.10
◦ $36,057.53

Question 2

Which is the better choice: $1000 deposited for a year at a rate of 5.5% compounded monthly or at a rate of 5.4% compounded daily?
◦ The rate of 5.4% compounded daily is better.
◦ They are the same.
◦ The rate of 5.5% compounded monthly is better.
Thinking Mathematically ¦ Blitzer ¦ 6th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by MirandaLo on Feb 2, 2020

SAUXC

  • Sr. Member
  • ****
  • Posts: 318
Reply #1 on: Feb 2, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 39% of students answer this correctly


MirandaLo

  • Member
  • Posts: 538
Reply 2 on: Feb 2, 2020
Excellent

deja

  • Member
  • Posts: 332
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Nearly all drugs pass into human breast milk. How often a drug is taken influences the amount of drug that will pass into the milk. Medications taken 30 to 60 minutes before breastfeeding are likely to be at peak blood levels when the baby is nursing.

Did you know?

Each year in the United States, there are approximately six million pregnancies. This means that at any one time, about 4% of women in the United States are pregnant.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

Not getting enough sleep can greatly weaken the immune system. Lack of sleep makes you more likely to catch a cold, or more difficult to fight off an infection.

Did you know?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

The nitrogen cycle. Numbers represent fluxes as 1012 g N per year (data from Schlesinger 1991, after The nitrogen cycle. Numbers represent fluxes as 1012 g N per year (data from Schlesinger 1991, after
Acceptable ranges of heart rate Acceptable ranges of heart rate
The Black Death spread over much of Europe in a three-year period in the middle of the fourteenth ce The Black Death spread over much of Europe in a three-year period in the middle of the fourteenth ce
Influence of substrate concentration on the rate of an enzyme-catalyzed reaction. Influence of substrate concentration on the rate of an enzyme-catalyzed reaction.
Enzymatic rate enhancements Enzymatic rate enhancements
Fetus Development Weekly vs. Monthly Fetus Development Weekly vs. Monthly
Video: Summary of female reproductive cycle days 1-28

For a complete list of videos, visit our video library