Mathematics, 03.06.2021 07:20 Woodlandgirl14

(FINAL ACCOUNT BALANCE ONLY NOTHING ELSE) 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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(FINAL ACCOUNT BALANCE ONLY NOTHING ELSE) You get a gift of $1,000. You decide that you want to in...