Mathematics, 23.03.2021 18:50 mvasquez3122p4vahv
An investment banker is responsible for investing a customers money into the greatest interest earning account. The banker has the following options for his customers investment:
Account A: interest rate=8%, term of investment=8 years, interest compounded annually.
Account B: Interest rate=7%, Term of investment=10 years, interest compounding continuously.
Which account, A or B, will earn the customer the greatest amount of interest on his $50,000 investment? In your final answer include all of your calculations.
Answers: 3
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