Heather wants to invest $35,000 of her retirement. She can invest at 4.8% simple interest for 20 yr, or she can choose an option with 3.6% interest compounded continuously for 20 yr. Which option results in more total interest?
Heather wants to invest $35,000 of her retirement. She can invest at 4.8% simple interest for 20 yr, or she can choose an option with 3.6% interest compounded continuously for 20 yr. Which option results in more total interest?
Chapter6: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 6RE: Hsu-Mei wants to save 5,000 for a down paymenton a car. To the nearest dollar, how much will sheneed...
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![Heather wants to invest $35,000 of her retirement. She
can invest at 4.8% simple interest for 20 yr, or she
can choose an option with 3.6% interest compounded
continuously for 20 yr. Which option results in more
total interest?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2aa760cb-0260-4a23-a1d6-4d89ebd204cd%2F34d75d57-aa6c-4494-8a1d-79470e2ce01c%2Fxm7bbjp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Heather wants to invest $35,000 of her retirement. She
can invest at 4.8% simple interest for 20 yr, or she
can choose an option with 3.6% interest compounded
continuously for 20 yr. Which option results in more
total interest?
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