Mathematics, 24.11.2020 21:40 maddireigh6403
You have the option to deposit $6500 into an account that pays 3.25% interest, compounded quarterly OR to deposit your money into an account that pays the same interest rate but compounds continuously. Which option yields you more money after 5 years and how much more?
OPTIONS:
Compounded quarterly, $4809.13
Compounded quarterly, $416.23
Compounded continuously, $5.02
Compounded continuously, $878.52
Answers: 3
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You have the option to deposit $6500 into an account that pays 3.25% interest, compounded quarterly...
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