Lance is planning to invest $5000 for a period of 3 years. He has a choice of four different investments. Which of the combinations of interest rates and compounding below will earn the most money?

a.

7%, daily

c.

7.1%, monthly

b.

7.2%, annually

d.

7.125%, quarterly

Question

Rodrigo Olson

4 June, 08:13

+1

Answers (1)

Know the Answer?

Nikolai Pugh · Answer 1

I think it's a. because he's getting almost the same amount as the others but daily.

Lance is planning to invest $5000 for a period of 3 years. He has a choice of four different investments. Which of the combinations of interest rates and compounding below will earn the most money?a.7%, dailyc.7.1%, monthlyb.7.2%, annuallyd.7.125%, quarterly