Question

Orlando invests S1000 at 6% annual interest compounded daily and Bernadette invests S1000 at 170

Answer 1

Answer:

So it will only take a year for Orlando's investments be worth more than

Bernadette's investments

Step-by-step explanation:

Interest of Bernadette in a year

=( 1000*170*1)/100

= 1700

So amount at a year is$ 2700

For Orlando amount the end of the year with compound interest daily.

A = P(1+r/n)^nt

A = 1000(1+(17/365))^(365*1)

A = 1000(1+0.0466)^365

A = 1000(1.0466)^365

A= $1.659*10^10

So it will only take a year for Orlando's investments be worth more than

Bernadette's investments