Which investment will earn more money, a $1,000.00 investment for 6 years at continuously or a $1,000.00 investment for 6 years at 12% compounded every 4 a) 11% compounded continuously would be worth $ 870.41

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
Problem 27PS
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Which investment will earn more money, a $1,000.00 investment for 6 years at 11% compounded
continuously or a $1,000.00 investment for 6 years at 12% compounded every 4 months
X. (Round to 2 decimal
a) 11% compounded continuously would be worth $ 870.41
places.)
b) 12% compounded every 4 months would be worth $ 1025.82
places.)
c)
O 11% compounded continuously would be worth more
12% compounded every 4 months would be worth more
O The would be worth the same.
X. (Round to 2 decimal
Transcribed Image Text:Which investment will earn more money, a $1,000.00 investment for 6 years at 11% compounded continuously or a $1,000.00 investment for 6 years at 12% compounded every 4 months X. (Round to 2 decimal a) 11% compounded continuously would be worth $ 870.41 places.) b) 12% compounded every 4 months would be worth $ 1025.82 places.) c) O 11% compounded continuously would be worth more 12% compounded every 4 months would be worth more O The would be worth the same. X. (Round to 2 decimal
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