Hello if you could help me that would be great
1 answer:
You might be interested in
Answer: 16
Step-by-step explanation:
Answer:
Account B
Value=$21,589.66
Step-by-step explanation:
#We determine the compounded amount after 10 years for each account using the formula:
#For account A:
Given principal is $16,000, i=3% and n=10, m=4:
#For account B:
Given principal is $16,000, i=3% and n=10, m=12:
We compare the amounts after 10 years and get the difference:
Hence, account B has the most value after 10 years and has a value of $21,589.66