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October 23, 2014

Homework Help: math

Posted by bob on Wednesday, October 3, 2012 at 8:51pm.

Suppose that you have $12,500 to invest over a 4 year period. There are two accounts to choose from: 4.5% compounded monthly or 4.3% compounded continuously.

a. Write the formula for the first account’s compound interest for n compounding per year.
b. Write the formula for the account with continuously compounded interest.
c. Use the formulas and information above to solve for the balance of each investment after 3 years.
d. Which investment account offers a better return on your money?

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