Question 1129741: I tried to solve it, but the answers do not beat. I had problem sending the question through my email and got typed.
Here is the question:
An investor intends to invest $ 16,500,000,00 in an application in "Bank A" that pays 45.5% per year for 30 consecutive days and corresponding to 21 business days. Suppose that "Bank B" pays 45% per year for 33 consecutive days and corresponds to 22 business days.
Which of the two would be best for the applicator?
Found 2 solutions by stanbon, MathTherapy:
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! An investor intends to invest $ 16,500,000,00 in an application in "Bank A" that pays 45.5% per year for 30 consecutive days and corresponding to 21 business days. Suppose that "Bank B" pays 45% per year for 33 consecutive days and corresponds to 22 business days.
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For a specified period of time the 45.5% investment will always
yield more interest than the 45% investment for the same period.
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Cheers,
Stan H.
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Answer by MathTherapy(10556)  (Show Source):
You can put this solution on YOUR website!
I tried to solve it, but the answers do not beat. I had problem sending the question through my email and got typed.
Here is the question:
An investor intends to invest $ 16,500,000,00 in an application in "Bank A" that pays 45.5% per year for 30 consecutive days and corresponding to 21 business days. Suppose that "Bank B" pays 45% per year for 33 consecutive days and corresponds to 22 business days.
Which of the two would be best for the applicator?
BETTER INVESTMENT: "BANK B" @ 45% per year, for 33 consecutive days that corresponds to 22 business days.
"Answers do not beat." I don't know what you mean by that but I assume it means that you're not getting the right answer.
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