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Posted by on Monday, December 20, 2010 at 9:25am.

Invest $23,000 in a savings account at 4.25% interest compounded quarterly.
Invest into an ordinary annuity where $5,000 is deposited each year into an account that earns 6.6% interest compounded annually.

  • Business Algebra - , Tuesday, December 21, 2010 at 2:26am

    http://math.about.com/library/weekly/aa042002a.htm

  • Business Algebra - , Tuesday, December 21, 2010 at 8:34am

    Perfect and thank you so much!!! :)

  • Business Algebra - , Wednesday, February 1, 2012 at 4:21pm

    3% compounded interest daily on one million dollars is how much monthly

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