# Finite Math

posted by .

Determine which is the better investment.

6.8% compounded semiannually or 6.6% compounded quarterly?

• Finite Math -

An easy way to do this is to choose a term of 1 year and \$1 amount.

You can then use the formulas.

For the first one:

P(1+r/2)^2 let P = 1 and r = .068

Do you know how to set up the second one?

• Finite Math -

yes thanks so much :D

## Respond to this Question

 First Name School Subject Your Answer

## Similar Questions

1. ### math

Jim wants to deposit money in an account to save for a new stereo system in two years. He wants to have \$4,000 available at the time. The following rates are available to him: 6.2% simple interest 6.1% compounded annually 5.58% compounded …
2. ### Math! plz help!

When Cody's son was born, he put \$4,500 in an investment that earns 7% compounded semi-annually. This investment will mature when his son turns 18 and will go straight into an annuity at 4.75% compounded and paying out quarterly at …
3. ### math help plz!

When Cody's son was born, he put \$4,500 in an investment that earns 7% compounded semi-annually. This investment will mature when his son turns 18 and will go straight into an annuity at 4.75% compounded and paying out quarterly at …
4. ### PreCalc

Which investment option will pay the most interest?
5. ### College Algebra

Investment A: \$5,000 invested for 7 years compounded semiannually at 9%. Investment B: \$ 6,000 invested for 5 years compounded quarterly at 4.1%. Find each total for each investment and determine which investment results are greater.
6. ### Finite Math

Find the effective rate of interest corresponding to a nominal rate of 6%/year compounded annually, semiannually, quarterly, and monthly. (Round your answers to two decimal places.)
7. ### algebra

Find the accumulated value of an investment of \$10,000 for 3 years at an interest rate of 6% if the money is a)compounded seiannually,b)compounded quarterly, c) compounded monthly, d) compounded continually
8. ### Math help!

Which is the better investment over a y year term?
9. ### math

find the accumulated value of an investment of \$10000 for 5 years at an interest rate of 5.5% if the money is a. compounded semiannually; b. compounded monthly; c. compounded continuously.
10. ### Math

If a community clinic invested \$3,000 in excess cash today, what would be the value of its investment at the end of three years: a. at a 12 percent rate compounded semiannually?

More Similar Questions