SOLUTION: you want to invest 1000 in to a savings account. which option is best for reaching your goal of 5000
A.) interst of 3% compounded semi annualy
B.) interst of 45% compounded year
Algebra.Com
Question 326530: you want to invest 1000 in to a savings account. which option is best for reaching your goal of 5000
A.) interst of 3% compounded semi annualy
B.) interst of 45% compounded yearly
c.) Interest of 25% compounded quarterly
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
A=5000(1+.03/2)^2
A=5000*1.03
A=5151.13
----------------
A=5000(1+.045)
A=5000*1.045
A=5225.00
----------------
A=5000(1+.025/4)^4
A=5000*1.00625
A=5031.25
RELATED QUESTIONS
How many years would it take for your savings to double if you put $5000 in a savings... (answered by JBarnum)
Suppose you invest $1000 in a savings account that pays 2.5% annual interst. How much... (answered by mananth)
A. How much should you invest each month in order to have $800,000 if your rate of return (answered by addingup)
as a financial planner a client comes to you for investment advice after meeting with him (answered by Theo)
How much should you invest each month in order to have $600,000 if your rate of return is (answered by addingup)
How much should you invest each month in order to have $800,000 if your rate of return is (answered by addingup)
How much should you invest each month in order to have $800,000 if your rate of return is (answered by addingup)
How much should you invest each month in order to have $800,000 if your rate of return is (answered by Theo)
How much should you invest each month in order to have $600,000 if your rate of return is (answered by addingup)