Mathematics, 30.04.2021 17:50 miriamjb
You are planning on buying yourself a car when you graduate college with cash, you have saved $15,000 so far. The car you will buy is valued at $26,795. You are offered a couple of options in terms of investing the $15,000 you currently have. Explore the options and determine which one will get you $26,795 the fastest. Bank 'A' provides a 5.45% interest rate, compounding continuously, how long will it take you, in years, if you invest $15,000 to make enough to buy the car? (round your answer to the nearest tenth) Bank "B" provides a 5.75% interest rate, compounding monthly, how long will it take you, in years, if you invest $15,000 to make enough to buy the car? (round your answer to the nearest tenth) *
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You are planning on buying yourself a car when you graduate college with cash, you have saved $15,00...
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