Amy has two options she can invest $5000 at an annual rate of 5% compounded semiannually for 15 years or she can invest $5000 at an annual rate of 4.99% compounded continuously for 20 years. Which is better?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter7: Systems Of Equations And Inequalities
Section7.2: Systems Of Linear Equations: Three Variables
Problem 63SE: You inherit one million dollars. You invest it all in three accounts for one year. The first account...
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Amy has two options she can invest $5000 at an annual rate of 5% compounded semiannually for 15 years or she can invest $5000 at an annual rate of 4.99% compounded continuously for 20 years. Which is better? Write an equation for both options

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