Tyra has recently inherited $5400, which she wants to deposit into an IRA account. She has determined that her two best bets are an account that compounds semi- annually at an annual rate of 3.1 % (Account 1) and an account that compounds continuously at an annual rate of 4 % (Account 2).
Step 2 of 2: How much would Tyra's balance be from Account 2 over 3.7 years? Round to two decimal places.

Tyra will definitely prefer the Account 2 over the Account 1

Tyra balance from account 2 over 3.7 years is $6,261.37

Explanation

She has determined that her two best bets are:

a. First account, which is at an annual rate of 3.1 %

b. Second account, which compounds continuously at an annual rate of 4%

Step 1

Account 1

Principal = $5,400

Annual rate = 3.1% semi-annually for 1 years

A = P(1+r/m)^n*t where n=1, t=2

A = 5,400*(1 + 0.031/2)^1*2

A = 5,400*(1.0155)^2

A = 5,400*1.03124025

A = 5568.69735

A = $5,568.70. So, the accrued value she will get after one years for this account is $5,568.70,

Account 2

Principal = $5,400

Annual rate = 4% continuously

A = P.e^rt where n=1

A = 5,400 * e^(0.04*1)

A = 5,400 * 1.04081077419

A = 5620.378180626

A = 5620.378180626

A = $5,620.39. So, the accrued value she will get after one years for this account is $5,620.39.

Conclusion: The second account will give a higher value than the first account.

Step 2

Annual rate = 4% continuously

A = P.e^rt where n=3.7

A = 5,400 * e^(0.04*3.7)

A = 5,400 * e^0.148

A = 5,400 * 1.15951289636

A = 6261.369640344

A = $6,261.37

The accrued value she will get after 3.7 years for this account is $6,261.37

you forgot the options, but i found them anyways, the correct answer is "john wilson believes that words and actions based on the intellect are superior to those based on emotions".

john wilson is depicted as an extremely intelligent man. the point of the excerpt is to make a sort of distinction between emotional and rational intelligence. he happens to have both attributes, but he clearly favors his intellectual gifts. at the same time, because of his religious background, he's a little bit conflicted with this and it makes him ashamed.

hope this !