George is comparing three investment accounts offering different rates.
Account A: APR of 3.75 compounding monthly
Account B APR of 3.85 compounding quarterly
Account C APR of 3.95 compounding daily
Which account will give George at least a 4% annual yield?
Stacey Warren - Expert brainly.com
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you need to compute three numbers
so which ever equals at least "4" will give me the answer then?
each will look like \(1+.0somthing\) choose the one or ones with the something greater than or equal to 4
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none will give you 4
if the answer looks like \(1.04...\) then that is a yield of larger than \(4\%\)
if the answer is \(1.03...\) then no
the first two equations are mixed up am i right?
oh yeah my fault, sorry
it's quite alright. I know how to set up the problem now. but about the yeild, the number won't equal 4, but if the last digit in the number is greater than or equal to 4 than that is the answer i would choose?
lets compute one
here is the first one
you can see that the answer is
so that one can be ruled out
so this one is out since it is smaller than \(1.04\)
I'll try the second one..
ok you can edit the one i did to compute it if you like
is the little 4 on the outside an exponent?
yes, that needs to be a 4, and also the denominator under \(.0385\) should be a 4 also