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over 2 year how much more does 2000 in a savings account with an apr of 4.2% compounded semiannually earn in interest than the same amount in a savings account with an apr of 3.6% compounded monthly

Respuesta :

Below is the solution:


 A = 2000[1 + (.042/2)]^(2*2) 

A = 2173.366476962 

A = 2173.37 

I = 2173.37 - 2000 

I = 173.37 


A = 2000[1 + (.036/12)]^(12*2) 

A = 2149.0790382667085294501721261072 

A = 2149.08 

I = 2149.08 - 2000 

I = 149.08 


173.37 - 149.08 = 24.29


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kenzie1227
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