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Home > A2C > Chapter 12 > Lesson 12.5.1 > Problem 12-194

12-194.

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.