Math 101 ........

4) You have Slfi)oothat you plan on investing wildcat bank is offering a 5% ApR compoundedcontinuously' The 'bther banr is offering s.r% Apy. which bank do you want to invest yourmoney with' Make sure you support your answer with mathematicalevidence. (Notice there isno option A, Chase. @)

Tell whether the forowing are true or farse and exprain whv.

The APR and Apy are never the same.

B) An account with compounding interest is always better than an account with simpte interestif you like money.

c) continuous compounding means that interest is being compounded every minute.

D) An account with S%ApR wi, arways grow faster than an account with 4.g% ApR.

6) A young lad is thinking of his future and wants to start saving for cogege. He needs to havesrooooo in 15 years' He has a rich family friend who is wifiing to pay L2% interest compoundedmonthly.

A) How much money does he need to come up with for the initiar investment?

s)

A)

B) what if he puts going to college off for five more years then how much does he need toinvest?