You invest $2500 in an account to save for college. Account 1 pays 6% annual interest
compounded quarterly. Account 2 pays 4%
annual interest compounded continuously.
Which account should you choose to
obtain the greater amount in 10 years?
Justify your answer. Round any answers to
the nearest whole dollar.
You should choose account 2 because
account 1 will have a balance of about $
after 10 years and account 2 will have
a balance of about $
after 10 years.