Mathematics, 20.11.2020 22:40 kris7726
Suppose you received a gift of $10,000 and want to invest it. You visit two banks to see
what they have to offer. Bank A is near your home and pays 5% interest compounded
annually. Bank B is farther from your home and pays 6% interest compounded annually.
You do not think a 1% difference in rates is that significant but you want to check
1. What is the equation for Bank A.
2. What is the equation for Bank B.
Answers: 1
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Suppose you received a gift of $10,000 and want to invest it. You visit two banks to see
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