Please show the work.

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asked Oct 22, 2018 80.8k views

1 Answer

Davina Leong · Answer 1 · 2018-10-28T02:38:13+0000

a.1000000@1% for 20 years =1000000x(1.01)^20=1000000x1.22019=$1220190
200000@10%, daily, for 20 years=200000 x (1+.1/360)^7200=200000x(1.000278)^7200=$ 1477400.84
b.200000 x (1.1)^20=$1345500
This still yields more than the first choice
☺☺☺☺

Please show the work.

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