Mathematics, 18.03.2021 01:40 andyromero
Classmates Joan, Peta, and Linda each received $400 as graduation gift. Joan deposits her money in an account that earns 7% interest compounded annually and keeps the money in the account for three years. Peta deposits her money, plus an extra $70, in an account that earns 8% interest compounded annually and keeps the money in the account for two years. Linda deposits her money in an account that earns 5% compounded'annually and keeps the money in the account for one year.
Who has more money when they close their accounts and why?
A) Joan, because she kept her money in the longest.
B) Linda, because of her interest rate.
C) Peta, because she invests the most.
D) They all make the same amount.
Answers: 3
Mathematics, 20.06.2019 18:02
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Classmates Joan, Peta, and Linda each received $400 as graduation gift. Joan deposits her money in a...
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