Question

HOW DO I SOLVE THIS?
Over 2 years, how much more does $2000 in a savings account with an APR of 4.6% compounded semiannually earn in interest than the same amount in a savings account with an APR of 4.4% compounded quarterly?

Answer 1

Make the data first @deb19

Answer 2

Also,do you know the formula?

Answer 3

(1+R/N)^n-1

Answer 4

its not working for me

Answer 5

\[A=P \left( 1+\frac{ r }{ n } \right)^{nt}\]

Answer 6

P=the principal invested
r=interest rate (as a decimal)
n=# of compounding periods per year
t=# of years