Saturday
August 30, 2014

Homework Help: math

Posted by Jessie on Wednesday, July 15, 2009 at 5:27pm.

The Investment Problem. Suppose that Rod invests $1,000 at 6% compounded daily and Sheila invests $1,000 at 7% (per year) simple interest. In how many years will Rod’s investment be worth more than Sheila’s investment? Complete the following table to answer your question (the amounts for the first 2 years are given; you may not have to do all 10 years):
Year 6% compounded daily 7% simple
1 $1,061.83 $1,070.00
2 $1,127.49 $1,140.00
3
4
5
6
7
8
9
10

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Algebra - Greta invests $10,000 in an investment that pays 3% interest, ...
math - Tamara invests $30,000 in an account earning 7% interest per year over ...
S.P - Tamara invests $30,000 in an account earning 7% interest per year over the...
maths - Tamara invests $30,000 in an account earning 7% interest per year over ...
MAAAATTTTHHHHHH - Franco invests some money at 6.9%/a compounded annually and ...
math - Andrew wants supplement his pension with investment interest if he ...
Business Math - Pete Air wants to buy a used Jeep in 5 years. He estimates the ...
Investment interest - Scenario: A client comes to you for investment advice on ...
Math - How much less interest is earned at 6% simple interest for 5 years on a $...
math - A professor wants to supplement her pension with investment interest. If ...

Search
Members