subject
Mathematics, 08.03.2021 21:30 pacpac1172

Harrison and Sherrie are making decisions about their bank accounts. Harrison wants to deposit $200 as the principle amount, with an interest of 2% compounded quarterly. Sherrie wants to deposit $200 as the principle amount, with an interest of 4% compounded monthly. Explain which method results in more money after 2 years.


Sherrie's method results in more money as hers is monthly compared to every four months but I'm not sure how to format the equations to get an exact number for each method.


A=P(1+\frac{r}{n})^{nt}

ansver
Answers: 1

Another question on Mathematics

question
Mathematics, 21.06.2019 13:30
David bought a poster for an art project. the poster is 2.7 feet wide and 3.9 feet tall. what is the area of the poster?
Answers: 2
question
Mathematics, 21.06.2019 16:00
Choose the point slope form of the equation below that represents the like that passes through the points (-6,4) and (2, 0)
Answers: 1
question
Mathematics, 21.06.2019 17:00
Need solving this second acceleration problem.
Answers: 1
question
Mathematics, 21.06.2019 18:00
He that is measured at 220ยฐ is a reflex angle. the opposite angle is obtuse. find the measure of obtuse .
Answers: 1
You know the right answer?
Harrison and Sherrie are making decisions about their bank accounts. Harrison wants to deposit $200...
Questions
question
French, 31.10.2020 15:40
question
Social Studies, 31.10.2020 15:40
question
Biology, 31.10.2020 15:50
question
Computers and Technology, 31.10.2020 15:50
question
Computers and Technology, 31.10.2020 15:50
question
English, 31.10.2020 15:50
Questions on the website: 13722363