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You deposit $2,250 into two separate accounts that earn 2% annual interest. If one account is compounded quarterly and one account is compounded monthly, which account will always have a larger amount?
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You deposit $2,250 into two separate accounts that earn 2% annual interest. If one account is compounded quarterly and one account is compounded monthly, which account will always have a larger amount? Why?

please show work <3

User Kiem Nguyen
by
8.4k points

1 Answer

5 votes

Answer:

4500

Explanation:

you take 2250 and times is by 2 an dget your answer

User Djalas
by
8.2k points
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