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