Dave won a photography contest and received a $1475 cash prize , will he earn more interest in 1 year if he invests his winnings in a simple interest account that pays 6% or in an account that pays $5.75 interest compounded monthly ? How much more interest will be earn ?
Dave won a photography contest and received a $1475 cash prize , will he earn more interest in 1 year if he invests his winnings in a simple interest account that pays 6% or in an account that pays $5.75 interest compounded monthly ? How much more interest will be earn ?
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 29RE: Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest,...
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Dave won a photography contest and received a $1475 cash prize , will he earn more interest in 1 year if he invests his winnings in a simple interest account that pays 6% or in an account that pays $5.75 interest compounded monthly ? How much more interest will be earn ?
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