Answered

At Westonci.ca, we make it easy to get the answers you need from a community of informed and experienced contributors. Explore in-depth answers to your questions from a knowledgeable community of experts across different fields. 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
We hope our answers were helpful. Return anytime for more information and answers to any other questions you may have. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.