Mathematics, 25.05.2021 23:50 neyssa83
You have $1,200 to invest, and are looking at different investment options:
-Bank of Lane Tech offers a savings account that pays 4.125% interest, compounded quarterly.
-Tennison Investments offers an account that pays 4.12% interest, compounded continuously.
Answer the following questions about the accounts:
1. How much money would be in each account after 3 years?
2. After 4 years, which account(s) would let you afford the Italian vacation you want to take, which you
estimate will cost you $1,420? Both? Neither? Only one (which one)? Show your work.
Answers: 1
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You have $1,200 to invest, and are looking at different investment options:
-Bank of Lane Tech offe...
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