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 87 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
:D TYSM

kishoreddi

  • Member
  • Posts: 329
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

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.

Did you know?

The senior population grows every year. Seniors older than 65 years of age now comprise more than 13% of the total population. However, women outlive men. In the 85-and-over age group, there are only 45 men to every 100 women.

Did you know?

There are approximately 3 million unintended pregnancies in the United States each year.

Did you know?

Patients who have been on total parenteral nutrition for more than a few days may need to have foods gradually reintroduced to give the digestive tract time to start working again.

Firing Rate of Individual SCN Neurons in a Tissue Culture Color bars have been added to emphasize th Firing Rate of Individual SCN Neurons in a Tissue Culture Color bars have been added to emphasize th
The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own The Kingsley plantation, on Fort George Island in Jacksonville, Florida. Zephaniah Kingsley, the own
Eighteen-year-olds were the largest age cohort in the first year of the war in both armies. Soldiers Eighteen-year-olds were the largest age cohort in the first year of the war in both armies. Soldiers
Nuts are healthy choice Nuts are healthy choice
How an Increase in Income Inequality Affects the Desired Tax Rate How an Increase in Income Inequality Affects the Desired Tax Rate
Video: Introduction to Diabetes

For a complete list of videos, visit our video library