A bank offers two different investment options.
Option 1 pays compound interest of 3.6% compou...
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Mathematics, 08.04.2020 03:31 manco6
A bank offers two different investment options.
Option 1 pays compound interest of 3.6% compounded monthly, meaning that each
month the balance increases by 1 of 3.6% of the previous month's balance.
Option 2 pays simple interest of 6% per year, meaning that each year the balance
increases by 6% of the initial deposit.
Which type of function can be used to model each option!
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Answers: 2
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