Posted by carly on Wednesday, March 3, 2010 at 9:36pm.
you are depositing $1000 dollars in a savings account and are given the following options.
6.2% annual interest rate, compounded annually
6.1% annual interest rate, compounded quarterly
6.0% annual interest rate, compounded continuously
for each option, write a function that gives the balance as a function of the time (T) in years.
graph all three functions in the same viewing window on your calculator, describe the viewing window.
find the balances for the three options after 25,50,75, and 100 years. is the option that yields the greatest balance after 25 years the same option that yields the greatest balance after 50,75, and 100 years? explain
the effective yield of a savings plan is the percent increase in the balance after 1 year. find the efective yields for the three options listed above. how can the effective yield be used to decide which option is best?
IM SO LOST AND SO SWARMED WITH OTHER HOMEWORK. I have been in the hospital for two weeks after having surgery and today was my first day back. PLEASE HELP! :(
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