Mathematics, 06.08.2021 23:50 adrielalvarez267
You have a choice to invest in one of three different college funds to save up for college. You need to save at least $14,000 for your first year. In which of the three accounts do you choose to invest your money given that you have $10,000 to invest and you would like to accrue as much interest as possible?
Account 1: An annual interest rate of 3.5% compounded quarterly for 10 years.
Account 2: An annual interest rate of 3.6% compounded continuously for 10 years.
Account 3: An annual interest rate of 3.2% compounded annually for 10 years.​
Answers: 1
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