CaitlinAnn7566 CaitlinAnn7566

17-01-2024
Mathematics

contestada

Use the following compound interest formulas to solve the question below:

A=P(1+r/n)ⁿᵗ

A=P⋅eʳᵗ

Suppose you have $12,000 to invest. Which investment yields the greater return over 3 years: 7% compounded monthly or 6.85% compounded continuously? Show all your work and explain your answer.

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