Suppose that you have $10,000 to invest over a 3 year period. There are two accounts to choose from: 4% compounded monthly or 3.
5% compounded continuously.
1 answer:
4% compounded monthly: $10000(1+0.04/12)^36 = $11272.72
3.5% compounded continuously: $10000e^[0.035*3] = $11107.11.
Which one pays the most in interest?
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