russ, who is self-employed, wants to invest $60,000 in a pension plan. One investment offers 3% compounded quarterly. Another offers 2.75% compounded continuously. A) which investment will earn more interest in 5 years B) how much more will the better plan earn?

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
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russ, who is self-employed, wants to invest $60,000 in a pension plan. One investment offers 3% compounded quarterly. Another offers 2.75% compounded continuously.

A) which investment will earn more interest in 5 years

B) how much more will the better plan earn?

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