+117
Diana can either invest 20000 dollars for 4 years with a simple interest rate of 6% or an interest rate of 7% which compounds quarterly. How many more dollars, rounded to the nearest dollar, would she get with the better interest rate than with the worse one?
+37153 6% money to be made 2000 (.06)(4) = 480 dollars
7% 2000(1 + .07/4)16 - 2000 = 639.86 dollars
interst rate per PERIOD = .07/4 periods = quarterly for 4 years = 16
