Students will be able to think flexibly to [apply] an

Last updated: 8/7/2022

Students will be able to think flexibly to [apply] an effective strategy to solve a problem. This question has multiple parts. Michael is saving up money to buy his first car. He has a choice between the following savings account interest rates: 1. 5% interest compounded yearly 2.4.95% compounded monthly 3. 4.9% compounded continuously Find the amount in each account after one year if $5,000 is put into each account initially. Putting yourself in this situation, what account would you invest you