You invest $2500 in an account to save for college. Account 1 pays 6% annual interest compounded quarterly. Account 2 pays 4% annual interest compounded continuously. Which account should you choose to obtain the greater amount in 10 years and why. Thank you!!

Account 2

Step-by-step explanation:

Account 1)

Formula for CI

Amount = p(1 + r/n)^nt

A = 2500 (1 + .06/4)^4x10

A = 2500 (1 + 0.015)^40

A = 2500 (1.015)^40

A = 4535.05

Account 2.

Formula for CI for interest compounded continously

A = Pe^rt

A = 2500 x e^0.06 x 10

A = 2500 x e^0.6

A = 2500e^3/5

A = 4555.297

c

step-by-step explanation: