SOLUTION: You have $10,000 that you plan to invest in a compound-interest bearing interest. Your investment agent advises you that you can invest the $10,000 at 8% compounded quarterly for

Question 470738: You have $10,000 that you plan to invest in a compound-interest bearing interest. Your investment agent advises you that you can invest the $10,000 at 8% compounded quarterly for three years or you can invest it at 8 � % compounded annually for three years. Which investment should you choose to receive the most interest? Show your work for calculating the interest for both options.
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=10000(1+0.08/4)^3*4
A=10000(1.02)^12
A=10000*1.26824
A=12,682.40
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A=10000(1.0825)^3
A=10000*1.26848
A=12,684.80
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