Question

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Answer 1

Answer:

10.5% compounded quarterly will be worth more at the end of 7 years.

Step-by-step explanation:

Investment 1:

Principal=$1,000

t=7 years

n=12 months

r=9%=0.09

FV=PV(1+r/n)^nt

Where,

FV=future value

PV=present value

r=interest rate

t=time (years)

n=number of periods

FV=PV(1+r/n)^nt

=1000(1+0.09/12)^12*7

=1000(1+0.0075)^84

=1000(1.0075)^84

=1000(1.8732)

=1,873.2

FV=$1,873.2

Investment 2:

Principal=$1,000

t=7 years

r=10.5%=0.105

n=4

FV=PV(1+r/n)^nt

=1000(1+0.105/4)^4*7

=1000(1+0.02625)^28

=1000(1.02625)^28

=1000(2.0658)

=2,065.8

FV=$2,065.8

10.5% compounded quarterly will be worth more at the end of 7 years.

Answer 2

The answer is 8 decimals one the top
& 9 on the bottom