I have 2 questions which are stumping me.
Which simple interest rate is equal to the annual continuous interest
rate 8% if a certain amount of money is invested for 4 years?
Im having a problem with this one when it comes to the time of money invested. I cannot seem to incorporate this into my solution.
2)Which is rate would be preferred?
Two credit card companies offer 2 different rates for outstanding balance.
1.75% per month.
By looking at this question I am leaning towards 5.3% quarterly, but I cannot prove it.
Thanks in advance for any help