Question

WILL FAN AND MEDAL

Maria plans to use $18,000 to open a savings account with an annual interest rate of 7%. How much more interest will she earn over 6 years if she chooses an account that compounds interest quarterly instead of annually?

Answer 1

@pooja195

Answer 2

@Preetha

Answer 3

compare \[18,000\times (1.07)^6\] with \[18,000\times (1+\frac{.07}{4})^{4\times 6}\]

Answer 4

439,560?

Answer 5

@satellite73

Answer 6

idk i didn't do it

Answer 7

here is the first one
http://www.wolframalpha.com/input/?i=18,000*%281.07%29^6

Answer 8

here is the second one
http://www.wolframalpha.com/input/?i=18,000*%281%2B.07%2F4%2924