document.write( "Question 1135359: Hi\r
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document.write( "which of the following rates would give the best return on $1500 invested for 3 years.\r
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document.write( "a) 12% compounded annually\r
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document.write( "b) 1% compounded monthly\r
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document.write( "my answer was a) the textbook said b) who is correct?\r
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document.write( "thanks \n" );
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Algebra.Com's Answer #752984 by Alan3354(69443)![]() ![]() You can put this solution on YOUR website! b) 1% compounded monthly\r \n" ); document.write( "\n" ); document.write( "my answer was a) the textbook said b) who is correct? \n" ); document.write( "=========== \n" ); document.write( "Interest is usually stated in % per year. \n" ); document.write( "----- \n" ); document.write( "1% per month compounded monthly gives \n" ); document.write( "$1500*(1.01)^36 = $2146.15 \n" ); document.write( "--------- \n" ); document.write( "It's a poorly written problem. \n" ); document.write( " |