Post a New Question

precal -checking answers

posted by .

Suppose Joan has $5,000 to invest. The banks are offering 3.10% interest. Bank A compounds interest continuously, while Bank B compounds interest semiannually. Answer these questions regarding which bank Joan should invest her money in, to accrue the greatest return.

How much would Joan's investment be worth after 20 years at Bank A?

and Bank B?

I got $ 9,294.64 for the both of them, but that seems a little suspicious

Answer This Question

First Name:
School Subject:

Related Questions

More Related Questions

Post a New Question