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I believe I have answered this correctly but wanted to verify my work. Any help

ID: 3169329 • Letter: I

Question

I believe I have answered this correctly but wanted to verify my work. Any help woudl be greatly appreciated.

?Q: Suppose that you have $12,000 to invest over a 4 year period. There are two accounts to choose from: 4% compounded monthly or 3.7% compounded continuously.

Use the formulas and information above to solve for the balance of each investment after 4 years.
?a. 14,078.40 - 12,000.00 -> 2,078.4
b. 13,914.15? - 12,000.00 -> 1,914.2
?

Which investment account offers a better return on your money? the 4%

A = P(1+r/n) ("tes)

Explanation / Answer

Congrats dear!!!!

You are right.

All formulas and the answers are absolutely right.

Gd work.

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