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wariber [46]
3 years ago
8

In which of the following scenarios would you have the most money at the end of the year? 3% compounded yearly 2% compounded mon

thly 2% compounded yearly 2% compounded weekly
Business
2 answers:
atroni [7]3 years ago
8 0
Hi there
Let's assume that your initial deposite is 100 for 1 year
The formula is
A=p (1+r/k)^kt

Let's try each option to see which one is the most money at the end of the year
3% compounded yearly
A=100×(1+0.03)
=103
2% compounded monthly
100×(1+0.02÷12)^(12)
=102.018
2% compounded yearly
100×(1+0.02)
=102
2% compounded weekly
100×(1+0.02÷52)^(52)
=102.019

So it's A

Good luck!
larisa [96]3 years ago
4 0
3% compounded yearly<span />
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