6. How much more money would you have by investing $100,000 for 1 year into an account paying 4.2% compounded daily as opposed to $100,000 for 1 year in an account paying 4.2% compounded annually?

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 22T
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6. How much more money would you have by investing $100,000 for 1 year into an account paying
4.2% compounded daily as opposed to $100,000 for 1 year in an account paying
4.2% compounded annually?
Transcribed Image Text:6. How much more money would you have by investing $100,000 for 1 year into an account paying 4.2% compounded daily as opposed to $100,000 for 1 year in an account paying 4.2% compounded annually?
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