Math Question: The amount of money I inherited is $75,550 with an interest rate of 2.5%. 1. Would you predict quarterly compounding or monthly compounding to earn more interest? Explain why. 2. Calculate the accrued, using quarterly compounding value for 5 years, 10 years, and 15 years. Show all work. 3. Calculate the accrued value, using monthly compounding for 5 years, 10 years, and 15 years. Show all work. 4. Was your prediction in part 1 correct? 5. Without doing the calculation, would daily compounding accrue more interest than quarterly and monthly compounding? Explain why.
Asked By cali On 01/30/2020 13:52
Click a subject below to view more math questions:
Math 1st grade 2nd grade 3rd grade 4th grade 5th grade 6th grade 7th grade 8th grade high school pre-algebra algebra 1 algebra 2 geometry trigonometry pre-calculus calculus 1 calculus 2 college
Math 1st grade 2nd grade 3rd grade 4th grade 5th grade 6th grade 7th grade 8th grade high school pre-algebra algebra 1 algebra 2 geometry trigonometry pre-calculus calculus 1 calculus 2 college