Answered: suppose you have $10,000 to invest…

suppose you have $10,000 to invest .which of these two rates would yield the larger amlount in 5 years : 9 % compound monthly or 8.88% compounded continuously ?

College Algebra

7th Edition

ISBN:9781305115545

Author:James Stewart, Lothar Redlin, Saleem Watson

Publisher:James Stewart, Lothar Redlin, Saleem Watson

Chapter4: Exponential And Logarithmic Functions

Section4.2: The Natural Exponential Function

Problem 2E

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Question

suppose you have $10,000 to invest .which of these two rates would yield the larger amlount in 5 years : 9 % compound monthly or 8.88% compounded continuously ?

How do you solve to get the N ?

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