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Author Question: Which is the better choice: $1000 deposited for a year at a rate of 5.5% compounded monthly or at a ... (Read 197 times)

MirandaLo

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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
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Marked as best answer by MirandaLo on Feb 2, 2020

SAUXC

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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.
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MirandaLo

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Reply 2 on: Feb 2, 2020
Thanks for the timely response, appreciate it

bassamabas

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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