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(solution) You have $10,000 to invest. One bank pays 5% interest compounded


You have $10,000 to invest. One bank pays 5% interest compounded quarterly and a second bank pays 4.5% interest compounded monthly. Use the formula for compound interest to write a function for the balance in each bank at any time t.

  A. A = 20,000(1 + (0.06/4))4t; A = 10,000(1 + (0.044/14))12t
  B. A = 15,000(1 + (0.07/4))4t; A = 10,000(1 + (0.025/12))12t
  C. A = 10,000(1 + (0.05/4))4t; A = 10,000(1 + (0.045/12))12t
  D. A = 25,000(1 + (0.05/4))4t; A = 10,000(1 + (0.032/14))1


 


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