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 182 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
Great answer, keep it coming :)

mjenn52

  • Member
  • Posts: 351
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

On average, the stomach produces 2 L of hydrochloric acid per day.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Did you know?

As the western states of America were settled, pioneers often had to drink rancid water from ponds and other sources. This often resulted in chronic diarrhea, causing many cases of dehydration and death that could have been avoided if clean water had been available.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th
Example of a choice board used in studies of decision making. This one includes four factors for ... Example of a choice board used in studies of decision making. This one includes four factors for ...
Static Stability & Environmental Lapse Rate Static Stability & Environmental Lapse Rate
Total Fertility Rate in Japan: Actual versus Forecast Total Fertility Rate in Japan: Actual versus Forecast
Effect of Increasing the Investment Rate on the Steady State Effect of Increasing the Investment Rate on the Steady State
Calculating Growth Rate of Bacteria Calculating Growth Rate of Bacteria
Video: Graded potentials - electrical characteristics and types

For a complete list of videos, visit our video library