anonymous
  • anonymous
Larry and Peggy are making decisions about their bank accounts. Larry wants to deposit $350 as a principle amount, with an interest of 4% compounded quarterly. Peggy wants to deposit $350 as the principle amount, with an interest of 6% compounded monthly. Explain which method results in more money after 2 years. Show all work.
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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chestercat
  • chestercat
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anonymous
  • anonymous
@Kash_TheSmartGuy @perl @mathmath333
misssunshinexxoxo
  • misssunshinexxoxo
Which option do you believe it is?
anonymous
  • anonymous
What do you mean?

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More answers

Kash_TheSmartGuy
  • Kash_TheSmartGuy
A = P(1+r/n)^nt is the formula for compound interest. Plug in the values. n is 12
anonymous
  • anonymous
So A = P (1 + 4/12)^12(35)?
anonymous
  • anonymous
350*
anonymous
  • anonymous
@misssunshinexxoxo
misssunshinexxoxo
  • misssunshinexxoxo
"Larry wants to deposit $350 as a principle amount, with an interest of 4% compounded " This option would make the most $ after 2 years :)
anonymous
  • anonymous
so that's it?
anonymous
  • anonymous
@misssunshinexxoxo
anonymous
  • anonymous
@misssunshinexxoxo

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