Answer: The account that compounds daily.
Step-by-step explanation: If you reinvest your money more frequently, then you will also be able to earn interest on the interest that you earned the previous day and so on.
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Answer:
A
Step-by-step explanation:
We have to determine the future value of the annuity to determine which account has a greater value
Future value = Amount x annuity factor
annuity factor = Annuity factor = {[(1+r)^n] - 1} / r
Account A = 300 x[ (1.042)^15 - 1 ] / 0.042 = $6097.14
Account B = 250 x[ (1.051)^15 - 1 ] / 0.051 = $5435,42
Account A will be greater
Answer:
Step-by-step explanation:
Swap the fraction,
or around 7.142...
