Math/Economics Homework lend a hand... PLEASE! D=?
heres my assignment..any advice? I dont really understand it...
You hold $2500 to invest in either a reserves account, a money market
statement or a Certificate of Deposit. Go on the internet and investigate the
interest rates at different banks for these different types of accounts.
Write a paragraph stating the following:
Which bank and what type of article you are going to put your
money in and why.
The interest rate and the amount of money you will have
surrounded by the account (if compounded annually) after 4 years time.
Was your choice a good one or would own made more money
investing your money in one of the other accounts?
Show your work for how much money you would have contained by your account after 4
years for all the different types of accounts timetabled above.
Answers: The assignment seems pretty straight forward. Savings, Money Manager, and Certificate of Deposit (CD) are all different types of ridge accounts that allow you to earn interest on the money you deposit with the bank.
Basically the question is asking you to research the current market rates on those, and if you invested in respectively one with a starting amount of $2500, after four years, which one would result in the most earn interest money. You need to calculate this and compare, and suggest whether or not the choice you budge with was a well brought-up choice in comparison to the other two choices.
I'd hate to say-so it but way too many population ask homework questions on Y! and way too several people out there only just do the work for them and the students end up learning zilch.
Do the assignment by researching the interest rate info and see what you've come up with, then come fund for more help with your results.
stir to yahoo calulators for the calculations, and the internet for the banks
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You hold $2500 to invest in either a reserves account, a money market
statement or a Certificate of Deposit. Go on the internet and investigate the
interest rates at different banks for these different types of accounts.
Write a paragraph stating the following:
Which bank and what type of article you are going to put your
money in and why.
The interest rate and the amount of money you will have
surrounded by the account (if compounded annually) after 4 years time.
Was your choice a good one or would own made more money
investing your money in one of the other accounts?
Show your work for how much money you would have contained by your account after 4
years for all the different types of accounts timetabled above.
Answers: The assignment seems pretty straight forward. Savings, Money Manager, and Certificate of Deposit (CD) are all different types of ridge accounts that allow you to earn interest on the money you deposit with the bank.
Basically the question is asking you to research the current market rates on those, and if you invested in respectively one with a starting amount of $2500, after four years, which one would result in the most earn interest money. You need to calculate this and compare, and suggest whether or not the choice you budge with was a well brought-up choice in comparison to the other two choices.
I'd hate to say-so it but way too many population ask homework questions on Y! and way too several people out there only just do the work for them and the students end up learning zilch.
Do the assignment by researching the interest rate info and see what you've come up with, then come fund for more help with your results.
stir to yahoo calulators for the calculations, and the internet for the banks