Friday

November 28, 2014

November 28, 2014

Posted by **Maddy** on Tuesday, April 15, 2014 at 6:51pm.

a) Calculate the two APYs and compare them to determine your answer. Make sure to distinguish which APY belongs to which bank. At which bank should they invest?

b) If they were to invest this money for ten years. How much more will they earn if investing with your choice from part a? Compare the two future values.

- Math -
**Damon**, Tuesday, April 15, 2014 at 7:37pm1.05^2 - 1 = 10.25 APY Wilder

1.0081666^12 - 1 = 10.2524 APY Cheapskate

so go with cheapskate

ten years

1.05^20 =2.6532

*85,000 = 225,530.30

1.0008166667^120 = 2.65387

*85,000 = 225,579.18

Cheapskate is 48.88 better

- Math -
**maddy**, Saturday, October 18, 2014 at 4:24pmfun

**Answer this Question**

**Related Questions**

Math - Jason Printing has $85,000 to invest. They can invest in Wilder Revenue ...

Math - Jason Printing has $85,000 to invest. They can invest in Wilder Revenue ...

math - Jim wants to deposit money in an account to save for a new stereo system ...

Math - James has 10,000 to invest. If he invest money in a savings account that ...

math - Compound Interest Question James has 10,000 to invest. If he invest money...

matttth help please - 1. Mike wants to invest money every month for 40 years. ...

math - A lender gives you a choice between the following two 30-year mortgages ...

math - Jim wants to deposit money in an account to save for a new stereo system ...

Accounting - How do I calculate the future value of the following? $5,000 ...

College Algebra and Finance - Please help! Just need the answer... A lender ...