Rich invests $20,000 at 3.25% compounded semiannually. Joe invests $20,000 at 3.25% compounded monthly. Dan invests at 3.255 compounded continuously. Who will

Rich will have =$38,111.18

Joe will have =$38,277.17

Dan will have=$38,310.82

Rich    =   20000(1.01625)^40           40 time periods of 1.625% interest

Joe     =    20000(1.0027083)^240     240 time periods of .27083% interest

Dan   =    20000 e^(.0325 x 20)

 

If you calculate these you find that Dan is the winner !