Logan inherited $8,000.  He split the money and placed EQUAL amounts in the two accounts below.  Find the total amount of money in EACH of the accounts after 5 years.  Which account had the greater return? Account A: earns 7% interest compounded quarterly Account B:  earns 6.5% interest compounded daily Account A:  $ (rounded to the nearest penny) Account B:  $ (rounded to the nearest penny) Which account made more interest?  (letter ONLY) How much more? $

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Logan inherited $8,000.  He split the money and placed EQUAL amounts in the two accounts below.  Find the total amount of money in EACH of the accounts after 5 years.  Which account had the greater return?

Account A: earns 7% interest compounded quarterly

Account B:  earns 6.5% interest compounded daily

Account A:  $ (rounded to the nearest penny)

Account B:  $ (rounded to the nearest penny)

Which account made more interest?  (letter ONLY)

How much more? $

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