3/ In Recent Casino gambling Alex won $50,000. Ignoring any deductions on his winning, He came...
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3/ In Recent Casino gambling Alex won $50,000. Ignoring any deductions on his winning, He came up with two plans to put his money to use. Plan A: Invest the money in a savings account immediately with the Bank of Hartford that pays 2.5% annual interest compounded quarterly. Plan B: Loan the entire amount to a friend who needs help with their new "tomato free pizza sauce" start-up and charge them 3% annual interest compounded monthly. A) What will the value of his money be after 15 years under Plan A? 3/ In Recent Casino gambling Alex won $50,000. Ignoring any deductions on his winning, He came up with two plans to put his money to use. Plan A: Invest the money in a savings account immediately with the Bank of Hartford that pays 2.5% annual interest compounded quarterly. Plan B: Loan the entire amount to a friend who needs help with their new "tomato free pizza sauce" start-up and charge them 3% annual interest compounded monthly. A) What will the value of his money be after 15 years under Plan A?
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