I believe I have answered this correctly but wanted to verify my work. Any help
ID: 3169329 • Letter: I
Question
I believe I have answered this correctly but wanted to verify my work. Any help woudl be greatly appreciated.
?Q: Suppose that you have $12,000 to invest over a 4 year period. There are two accounts to choose from: 4% compounded monthly or 3.7% compounded continuously.
Use the formulas and information above to solve for the balance of each investment after 4 years.
?a. 14,078.40 - 12,000.00 -> 2,078.4
b. 13,914.15? - 12,000.00 -> 1,914.2
?
Which investment account offers a better return on your money? the 4%
A = P(1+r/n) ("tes)Explanation / Answer
Congrats dear!!!!
You are right.
All formulas and the answers are absolutely right.
Gd work.
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