SOLUTION: Would you rather have a savings account that pays 5 % compounded semiannually or one that pays 5% compounded daily? explain

SOLUTION: Would you rather have a savings account that pays 5 % compounded semiannually or one that pays 5% compounded daily? explain

Algebra.Com

Question 1087863: Would you rather have a savings account that pays 5 % compounded semiannually or one that pays 5% compounded daily? explain
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
Would you rather have a savings account that pays 5 % compounded semiannually or one that pays 5% compounded daily? explain
---------
Daily.
Interest accrues faster.
RELATED QUESTIONS
Would you rather have a saving account that pays 5% interest compound semiannually or... (answered by checkley77)

If you put $1,500 in a savings account that pays 4% interest compounded continuously, how (answered by jim_thompson5910)

Would you have an investment that pays 5% interest compounded semi �annually or the... (answered by Theo)

Mrs. Brown put $10,000 into a savings account that pays 5% interest, compounded... (answered by ikleyn)

Anthony deposits $2500 in a savings account that pays 4.5% interested compounded... (answered by MathLover1)

You have 3,000 in a savings account that pays 5 1/2% compounded annually. How much... (answered by Alan3354)

If you put $4,000 in a savings account that pays interest at the rate of 4%, compounded... (answered by rfer)

Lisa opens a savings account with $1,950. The bank pays 5% compounded semiannually. After (answered by Theo)

Dalton invest $25,000 in an account that pays 7% compounded annually. How much money... (answered by ikleyn)