Question

PLZZZ HELP!!!!!!!!!!!!!!!!!!!!!!

Answer 1

Answer:

Harrison

• Principal P = 200
• Interest rate r = 2% = 0.02
• Number of compounds n = 4
• Time t = 2

Total amount:

• $A = P(1+r/n)^{nt}=200*(1+0.02/4)^{4*2} = 208.14$

Sherrie

• Principal P = 200
• Interest rate r = 4% = 0.04
• Number of compounds n = 12
• Time t = 2

Total amount:

• $A = P(1+r/n)^{nt}=200*(1+0.04/12)^{12*2} = 216.63$

As we see the second method is a better choice