Three different accounts are described below. Order the accounts according to their values after 10 years, from greatest to least.

Question

Three different accounts are described below. Order the accounts according to their values after 10 years, from greatest to least.

You deposit $950 in an account that earns 9% annual interest compounded daily.
= You deposit $1000 in an account that earns 8% annual interest compounded daily.
= You deposit $1000 in an account that earns 9% annual interest compounded semiannually.
= You deposit $1000 in an account that earns 10% simple interest.

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Trung Dũng 6 months 2021-07-18T11:10:23+00:00 1 Answers 3 views 0

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    2021-07-18T11:12:12+00:00

    Answer:

    `1. You deposit $950 in an account that earns 9% annual interest compounded daily.

    2.You deposit $1000 in an account that earns 8% annual interest compounded daily.

    3. You deposit $1000 in an account that earns 9% annual interest compounded semiannually.

    Step-by-step explanation:

    Trick question, number 3 says semiannually so it is only twice a year, so it is the least. In math papa or any algebra calculator, put in the two equations and compare which is greater, in this case, y = 950(1.09)^10 is greater than y=1000(1.08)^10

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