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Home > CCA2 > Chapter 10 > Lesson 10.3.2 > Problem 10-169

10-169.

Robin and Teryll each have to invest and they disagree about the best place to start a savings account. Teryll found a savings and loan company that will guarantee a rate of compounded monthly for the next years. Robin says her bank is much better because they will give her interest compounded semi-annually for the next ten years. In ten years, which account will end up with the greatest amount and how much difference is there? Homework Help ✎

Use the formula for compound interest given in the Math Notes box in this lesson.