Welcome to Westonci.ca, your one-stop destination for finding answers to all your questions. Join our expert community now! Connect with a community of experts ready to provide precise solutions to your questions on our user-friendly Q&A platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.
Sagot :
Step-by-step explanation:
write what you know
P = 1,000
n = 5 years
Plan 1
i = 0.04 / 2 months = (0.04 / 2 months) x (12 months / year) = 24%
write and solve
future value = p(1+i)^n = 1000(1+0.24)^5
plan 2
i = 0.10 / 6 months = (0.10 / 6 months) x (12 months / year) = 20%
write and solve
future value = p(1+i)^n = 1000(1+0.20)^5
We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.