Interest Compounded Monthly Economic Assignment
Economic students learn principles that are used by companies of every size and in all sectors, whether it be for product development, price decisions, or marketing initiatives. Due to its broad impact, studying economics can lead to a wide range of job opportunities in all areas of the economy, including banking, consulting, manufacturing and agriculture. Although it has many benefits to a student, economic studies is a very grueling scope of study which is why you need my homework writers to help you with any economic assignment. A sample of such a question is;
5. Mr. Mendoza plans to open an investment account. There are two banks he is considering. In Bank A, he should deposit P4000 at the end of every month, and it earns 3.7% interest compounded monthly. In Bank B, he should deposit P12 000 at the end of every three months, and it earns 8% interest compounded quarterly, Which of the two options will accumulate more money after 10 years? (4 points)
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