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5. You have $1000 and plan to put it into an account earning interest compounded con- tinuously. Bank A offers 2.7% interest. Bank B offers 1.5% interest but will give you a $100 bonus at the beginning. (That $100 also gets deposited in your account and earns interest). If you plan to leave your money in the account for 5 years, which option is better? (A) Bank A will give you about $41 more overall. (B) Bank B will give you about $67 more overall. (C) Bank B will give you about $33 more overall. (D) Bank B will give you about $41 more overall. (E) Bank A will give you about $67 more overall.

5. You have $1000 and plan to put it into an account earning interest compounded con- tinuously. Bank A offers 2.7% interest. Bank B offers 1.5% interest but will give you a $100 bonus at the beginning. (That $100 also gets deposited in your account and earns interest). If you plan to leave your money in the account for 5 years, which option is better? (A) Bank A will give you about $41 more overall. (B) Bank B will give you about $67 more overall. (C) Bank B will give you about $33 more overall. (D) Bank B will give you about $41 more overall. (E) Bank A will give you about $67 more overall.

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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5. You have $1000 and plan to put it into an account earning interest compounded con- tinuously. Bank A offers 2.7% interest. Bank B offers 1.5% interest but will give you a $100 bonus at the beginning. (That $100 also gets deposited in your account and earns interest). If you plan to leave your money in the account for 5 years, which option is better? (A) Bank A will give you about $41 more overall. (B) Bank B will give you about $67 more overall. (C) Bank B will give you about $33 more overall. (D) Bank B will give you about $41 more overall. (E) Bank A will give you about $67 more overall.
Transcribed Image Text:5. You have $1000 and plan to put it into an account earning interest compounded con- tinuously. Bank A offers 2.7% interest. Bank B offers 1.5% interest but will give you a $100 bonus at the beginning. (That $100 also gets deposited in your account and earns interest). If you plan to leave your money in the account for 5 years, which option is better? (A) Bank A will give you about $41 more overall. (B) Bank B will give you about $67 more overall. (C) Bank B will give you about $33 more overall. (D) Bank B will give you about $41 more overall. (E) Bank A will give you about $67 more overall.
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