subject
Mathematics, 16.04.2020 21:33 Kaaaynicole

Nancy wants to receive the most return on a $50,000 investment. She has two options. Option 1 gives annual interest at 5% compounded yearly. Option 2 gives annual interest at 3.5% compounded monthly.

Which option is better after 3 years, and what is the difference in earned interest?

Option 1 earns more interest by $3,581.52.
Option 2 earns more interest by $3,581.52.
Option 1 earns more interest by $2,396.13.
Option 2 earns more interest by $2,396.13.

ansver
Answers: 3

Another question on Mathematics

question
Mathematics, 21.06.2019 13:00
Add or subtract polynomial : –12qr? +13rq?
Answers: 3
question
Mathematics, 21.06.2019 17:00
Omar is going on a road trip! the car rental company offers him two types of cars. each car has a fixed price, but he also needs to consider the cost of fuel. the first car costs $90 to rent, and because of its fuel consumption rate, there's an additional cost of s0.50 per kilometer driven.
Answers: 2
question
Mathematics, 21.06.2019 17:30
Asphere has a diameter of 10 in. what is the volume of the sphere?
Answers: 1
question
Mathematics, 21.06.2019 22:00
To decrease an amount by 16% what single multiplier would you use
Answers: 1
You know the right answer?
Nancy wants to receive the most return on a $50,000 investment. She has two options. Option 1 gives...
Questions
question
Mathematics, 10.12.2020 18:50
question
Spanish, 10.12.2020 18:50
question
Health, 10.12.2020 18:50
question
Mathematics, 10.12.2020 18:50
Questions on the website: 13722360