Mathematics, 03.06.2021 06:10, drey10
You get a gift of $1,000. You decide that you want to invest all of the money in a savings account. However, your bank has two different savings plans. Determine the final amount in the account for each plan in 5 years. Round your answers to two decimal places if needed.
Plan A: The bank gives you 4% interest rate and it is compounded every two months.
Plan B: The bank gives you a 10% interest rate and compounds the interest every 6 months.
Final Account balance for Plan A: $
Final Account balance for Plan B: $
Answers: 1
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You get a gift of $1,000. You decide that you want to invest all of the money in a savings account....
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