Answer:
Harrison method results in more money after 2 years
Step-by-step explanation:
we know that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
Harrison Method
![t=2\ years\\ P=\$300\\ r=0.02\\n=12](https://tex.z-dn.net/?f=t%3D2%5C%20years%5C%5C%20P%3D%5C%24300%5C%5C%20r%3D0.02%5C%5Cn%3D12)
substitute in the formula
![A=\$300(1+\frac{0.02}{12})^{12*2}=\$312.23](https://tex.z-dn.net/?f=A%3D%5C%24300%281%2B%5Cfrac%7B0.02%7D%7B12%7D%29%5E%7B12%2A2%7D%3D%5C%24312.23)
Sherrie Method
substitute in the formula
![A=\$200(1+\frac{0.04}{4})^{4*2}=\$216.57](https://tex.z-dn.net/?f=A%3D%5C%24200%281%2B%5Cfrac%7B0.04%7D%7B4%7D%29%5E%7B4%2A2%7D%3D%5C%24216.57)
therefore
Harrison method results in more money after 2 years
Answer:
Step-by-step explanation:
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Ia that an 81 ??. if it is its 40/1 3/4