Mathematics
Mathematics, 04.05.2021 17:10, kierraivey

A bank offers two different investment options. Option 1 pays compound interest of 3.6% compounded monthly, meaning that each month the balance increases by 112 of 3.6% of the previous month's balance. Option 2 pays simple interest of 6% per year, meaning that each year the balance increases by 6% of the initial deposit. Which type of function can be used to model each option?


A bank offers two different investment options. Option 1 pays compound interest of 3.6% compounded

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