Gregory may choose between two accounts in which to invest $5500. Account a offers 2.33% annual interest compounded monthly. Account B offers continuous compound interest. Greg plans to leave his investment untouched (no further deposits and no withdrawals) for 10 years. Which account will yield the greater balance at the end of 10 years?

Question

Angelwolf · Answer

This is the annual interest compounded monthly:

Angelwolf · Answer

And this is the Continuous compound interest:

Angelwolf · Answer

So there is only 2$ difference but the Continuous compound interest is best.

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