compound and simple interests, Algebra

Assignment Help:

Scenario: A client comes to you for investment advice on his $500,000 winnings from the lottery. He has been offered the following options by three different financial institutions and requests assistance to help understand which option would be the best for his investment. Option 1: 6% compounded interest quarterly for 5 years. Option 2: 8% compounded interest annually for 5 years. Option 3: 14.5% simple interest for 10 years. Write a professional memo that covers the following information: Explain to the client the main differences between simple interest versus compound interest. Explain the results of the three different options by showing the client the step-by-step calculations. Explain which investment option is better for your client and why.

Related Discussions:- compound and simple interests

Growth and Decay Models, The population of a city was 141 thousand in 1992....

The population of a city was 141 thousand in 1992. The exponential growth rate was 1.6% per year. Find the exponential growth function in terms of t,where t is the number of years

I need help with my cahsee, Ask questionteachme how to graph points convert...

Ask questionteachme how to graph points convert fractions to deciams #Minimum 100 words accepted#

How do I solve, Suppose you are provided with a geometric sequence. How can...

Suppose you are provided with a geometric sequence. How can you find the sum of n terms of the sequence without having to add all of the terms?

Determinants, sir is there any rule to use properties of determinants to so...

sir is there any rule to use properties of determinants to solve the sums

Present value of annuity, The Fritzes are buying a house that sells for $18...

The Fritzes are buying a house that sells for $185,000. The bank is requiring a minimum down payment of 15% for a 30-year mortgage at 5.2% interest. Find (a) the amount of the down

Modeling Data, The number in millions of people in the U.S. living below po...

The number in millions of people in the U.S. living below poverty level is shown for selected years. Find a degree 3 polynomial model for the data, where x is the number of years p

FINANCE, Finance is the field of science that explains the management of fu...

Finance is the field of science that explains the management of funds. The areas that generally come under finance are personal finance, business finance, and public finance. The f

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd