document.write( "Question 662186: Jane is having difficulty deciding whether to put her savings in the Mystic Bank or in the Four Rivers Bank. Mystic offers a 12 percent rate compounded quarterly while Four Rivers offers 14 percent compounded semiannually. Jane has $40,000 to invest and expects to withdraw the money at the end of five years. (Use the tables in the handbook) The best deal is: (Points : 2)
\n" ); document.write( " Four Rivers
\n" ); document.write( " Four Rivers for 1st two years
\n" ); document.write( " Mystic
\n" ); document.write( " Mystic for last two years
\n" ); document.write( " None of these
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Algebra.Com's Answer #412003 by ewatrrr(24785) $\"\"$ $\"About$

You can put this solution on YOUR website!

 
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document.write( "Hi,
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document.write( " In General 
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document.write( "A = Accumulated Amount
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document.write( "P= principal = 40,000
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document.write( "r= annual rate = .12 0r .14
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document.write( "n= periods per year = 4 0r 2
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document.write( "t= years = 5
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document.write( "  0r   
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document.write( "   $72,244,45  0r $78,686.05
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document.write( "check the arithmetic and make Your conclusion \n" );
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