Mathematics, 23.05.2020 00:04 cuhh
An investment banker is responsible for investing a customer’s money into the greatest interest earning account. The banker has the following options for his customer’s investment:
Account A:
interest rate = 4.8%
term of investment = 10 years
interest compounded monthly Account B:
interest rate = 4.9%
term of investment = 10 years
interest compounding continuously
Which account, A or B, will earn the customer the greatest amount of interest on his $150,000 investment? In your final answer, include all of your calculations.
Answers: 3
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