Paul has deposited $1000 in a savings account paying interest at j = 4.5% and now...

 

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Paul has deposited $1000 in a savings account paying interest at j₁ = 4.5% and now finds that his deposits have accumulated to $1246.18. If he had been able to invest the $1000 over the same period in a guaranteed investment certificate paying interest at /₁ = 6%, to what sum would his $1000 now have accumulated? Paul has deposited $1000 in a savings account paying interest at j₁ = 4.5% and now finds that his deposits have accumulated to $1246.18. If he had been able to invest the $1000 over the same period in a guaranteed investment certificate paying interest at /₁ = 6%, to what sum would his $1000 now have accumulated?

Answer rating: 100% (QA)

Step 12 P 1000 r 45 A 124618 n year we know tha... View the full answer