What is credit?
- an arrangement in which you receive money, goods, or services now in...
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Mathematics, 04.12.2019 12:31 caraxphernelia
What is credit?
- an arrangement in which you receive money, goods, or services now in exchange for the promise of payment later
- an arrangement in which you receive goods or services in exchange for other goods and services
-an arrangement in which you receive money now and pay it back later with fees
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Scott harris can invest $7,000 in a 1-year cd that earns interest at an annual rate of 4 percent compounded monthly. the amount per $1.00 is 1.040742. he can also invest $7,000 in a 1-year cd at annual rate of 4 percent compounded quarterly. the amount per $1.00 is 1.040604. what is the difference in the amount of interest earned for each investment? a) $0.96 b) $0.81 c) $0.87 d) $0.88
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