Vivian has $2,700 to invest in one of two accounts. Account 1 earns 6.6% interest compounded semiannually for 2 years. Account 2 earns 4.4% interest compounded quarterly for 3 years. Both accounts have yearly maintenance fees of $15. Which investment will give Vivian the higher profit, and how much? Select the answer that is completely correct. Account 1 is better because it earns $25.66 more than Account 2. Account 2 is better because it earns $4.34 more than Account 1. Account 1 is better because it earns $10.66 more than Account 2. Account 2 is better because it earns $34.34 more than Account 1.

Vivian has $2,700 to invest in one of two accounts. Account 1 earns 6.6% interest compounded semiannually for 2 years. Account 2 earns 4.4% interest compounded quarterly for 3 years. Both accounts have yearly maintenance fees of $15. Which investment will give Vivian the higher profit, and how much? Select the answer that is completely correct. Account 1 is better because it earns $25.66 more than Account 2. Account 2 is better because it earns $4.34 more than Account 1. Account 1 is better because it earns $10.66 more than Account 2. Account 2 is better because it earns $34.34 more than Account 1.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter7: Systems Of Equations And Inequalities

Section7.2: Systems Of Linear Equations: Three Variables

Problem 63SE: You inherit one million dollars. You invest it all in three accounts for one year. The first account...

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