You can work on your own or with a partner.
Suppose you received a gift of $10,000 and want to...
Mathematics, 06.04.2020 04:06 dakid11
You can work on your own or with a partner.
Suppose you received a gift of $10,000 and want to invest it. You visit two banks to see what they have to offer. Bank A is near your home and pays 5% interest compounded annually. Bank B is farther from your home and pays 6% interest compounded annually. You do not think a 1% difference in rates is that significant, but you want to check.
Calculate the amount of interest each plan will earn after one year. Record your answers on the lines provided.
Answers: 3
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