Answered

Discover a wealth of knowledge at Westonci.ca, where experts provide answers to your most pressing questions. Connect with a community of experts ready to help you find accurate solutions to your questions quickly and efficiently. Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform.

Sophia has $6,000 to invest. She is considering two investment options. Option A pays 2.2% simple interest. Option B pays 2% interest compounded annually. Use the drop-down menus below to choose which option is the best choice for Sophia for each number of years.

Sagot :

Answer:

Option A and option B

Step-by-step explanation:

Given that

Sophia wants to invest $6,000

There are two investment options

Option A pays 2.2% simple interest

and, Option B pays 2% interest compounded annually

Now we need to find out which option is the best choice

In the case when Sophia wants to invest for 10 years, so she should select

option A as the investment will have highest value.

In the case when Sophia wants to invest for 20 years, so she should select

option B as the investment will have highest value.

View image andromache
Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Your visit means a lot to us. Don't hesitate to return for more reliable answers to any questions you may have. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.