
Concept explainers
The Kennedy compound. You wish to ivest $1000 for five years, and you have two investment options: Bobby Kennedy Bank offers 3% compounded annually, while Jack Kennedy Bank offers 3% compounded daily. Clearly it’s all the way with JFK. Here we ask not what your bank can do for you. Instead, we ask you to analyze both options and determine how much more money you would have with Jack than with Bobby.

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The Heart of Mathematics: An Invitation to Effective Thinking
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