Question

Please show the work.

Answer 1

[email protected]% for 20 years =1000000x(1.01)^20=1000000x1.22019=$1220190
[email protected]%, daily, for 20 years=200000 x (1+.1/360)^7200=200000x(1.000278)^7200=$ 1477400.84
b.200000 x (1.1)^20=$1345500
This still yields more than the first choice
☺☺☺☺