Mathematics, 10.09.2021 03:30 georgeonnatreev2275
Matt invested $300 into an account that had an annual interest rate of 3.8% compounded monthly for 5 years. Chris invested $350 into an account that had an annual interest rate of 3.5% compounded continuously for 5 years. Determine which models could be used to determine how much money would be in each account after 5 years.
Group of answer choices
Matt: A=300(1+3.812)5
Chris: A=350e(3.5∗5)
Matt: A=300(1+3.812)5
Chris: A=350e(3.5∗5)
Matt: A=300e(0.038⋅5)A=300e(0.038⋅5)
Chris: A=350(1+0.35)5A=350(1+0.35)5
Matt: A=300(1+0.03812)60
Chris: A=350e(0.35∗5)
Matt: A=300(1+0.03812)60
Chris: A=350e(0.35∗5)
Matt: A=300(1+0.03812)60
Chris: A=350e(0.035∗5)
Answers: 2
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Matt invested $300 into an account that had an annual interest rate of 3.8% compounded monthly for 5...
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