You are given a choice of taking the simple interest on $100,000 invested for 4 years at
Question:
You are given a choice of taking the simple interest on $100,000 invested for 4 years at a rate of 5% or the interest on $100,000 invested for 4 years at an interest rate of 5% compounded daily. Which would you select? Explain your answer and give the difference in the two investments.
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i prt 1000000054 20 000 A 100000 1 005360 ...View the full answer
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Related Book For 
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
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