Mathematics, 02.09.2021 16:00 cam6836

Lynn has money to invest in one of two accounts that have a 5.4% annual interest rate. Account 1 compounds annually and requires a $400 investment for 5 years.
Account 2 compounds quarterly and requires a $375 investment for 6 years.

Which account has the higher return?

Answers: 2

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More questions: Mathematics Another questions

Lynn has money to invest in one of two accounts that have a 5.4% annual interest rate. Account 1 compounds annually and requires a $400 investment for 5 years. Account 2 compounds quarterly and requires a $375 investment for 6 years. Which account has the higher return?

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Another question on Mathematics

Lynn has money to invest in one of two accounts that have a 5.4% annual interest rate. Account 1 compounds annually and requires a $400 investment for 5 years.
Account 2 compounds quarterly and requires a $375 investment for 6 years.

Which account has the higher return?