Juan will deposit $1.250 in an account that earns 3% simple interest every year. His brother Pedro will deposit $1,000 in an account that earns 5% interest compounded
annually. The deposits will be made on the same day, and no additional money will be deposited or withdrawn from the accounts. Which statement about the balances of
Juan account and Pedro account at the end of 4 years is true?
A) Juan's account will have about $184.49 more than Pedro's account.
B) Juan's account will have about $1065,51 more than Pedro's account.
c) Pedro's account will have about $1065.51 more than Juan's account
D) Pedro's account will have about $184.49 more than Juan's account.

Question

alexa2007olivares alexa2007olivares

02-04-2021
Mathematics

Answered

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Juan will deposit $1.250 in an account that earns 3% simple interest every year. His brother Pedro will deposit $1,000 in an account that earns 5% interest compounded
annually. The deposits will be made on the same day, and no additional money will be deposited or withdrawn from the accounts. Which statement about the balances of
Juan account and Pedro account at the end of 4 years is true?
A) Juan's account will have about $184.49 more than Pedro's account.
B) Juan's account will have about $1065,51 more than Pedro's account.
c) Pedro's account will have about $1065.51 more than Juan's account
D) Pedro's account will have about $184.49 more than Juan's account.

Sagot :

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