Answered

Westonci.ca connects you with experts who provide insightful answers to your questions. Join us today and start learning! Connect with a community of experts ready to help you find solutions to your questions quickly and accurately. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Tina is considering two compound interest account options as shown below. Which option yields the most interest? How much more?option, principal, p; interest rate, r; time, t; a, $500, 6 percent, 5 years. b, $500, 6.5 percent, 5 years.AnswerAOption A; $15.93BOption B; $15.93COption A; $12.50DOption B; $12.50

Sagot :

a, $500, 6 percent, 5 years

[tex]A=500(1+0.06)^5\approx669.1128[/tex]

b, $500, 6.5 percent, 5 years

[tex]B=500(1+0.065)^5\approx685.0433[/tex]

The option that yields most interest is option b, for $15.93:

[tex]685.0433-669.1128\approx15.93[/tex]

Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Thank you for visiting Westonci.ca. Stay informed by coming back for more detailed answers.