Melanie invested $8,600 in an account paying an interest rate of 2% compounded monthly. Oliver invested $8,600 in an account paying an
interest rate of 2% compounded daily. After 10 years, how much more
money would Melanie have in her account than Oliver, to the nearest dollar?

the answer is a i belaeve atleast thats what my calculator just gfave me

step-by-step explanation:

168

step-by-step explanation:

i am pretty sure that the answer is 168

required rate of return = 0.166 = 16.6%

step-by-step explanation:

under the capital asset pricing model (capm), the required or expected rate of return for a particular security or asset is given using the formula:

required rate of return = risk-free rate + beta*(market risk premium)

we are given that;

risk-free rate = 4% = 0.04

beta = 1.4

market risk premium = 9% = 0.09

we simply plug these values into the above formula;

required rate of return = 0.04 + 1.4*(0.09)

required rate of return = 0.04 + 0.126

required rate of return = 0.166 = 16.6%