Construct a table showing the projected amount of money in, Ask an Expert

Economics

You have $10,000 to invest for 5 years. You local bank has the following accounts available:

Account 1 for $500 or over: 5.5% per year simple interest
Account 2 for $2,000 or over: 5% per year compound interest
Account 3 for $6,000 or over: 6.5% per year simple interest
Account 4 for $10,000 or over: 6% per year compound interest

Construct a table showing the projected amount of money in each account at the end of each of the 5 years. Which do you prefer?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M961572

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