All else being equal, a study with which of the following error ranges would be the most reliable? A. ±9 percentage points B. ±3
2 answers:
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For this we will use formula that is letting us to input: interest rate, starting funds, how often intereset rate is implemented, period we are observing. Formula looks like this:
where M is money, S is starting funds, "i" is interest rate, cp is compounding period and y is number of years. now we express and calculated for both of them and get
M = 318,479 for Patricks investement.
M = 331,482 for Brooklyn.
Which means Brooklyn's method will pay of more.
where M is money, S is starting funds, "i" is interest rate, cp is compounding period and y is number of years. now we express and calculated for both of them and get
M = 318,479 for Patricks investement.
M = 331,482 for Brooklyn.
Which means Brooklyn's method will pay of more.