subject
Mathematics, 10.03.2021 02:20 jahnoibenjamin

Three friends decide that they each want to be able to buy a new boat in five years. Vanore puts $1,000 in a savings account with a simple interest rate of 4.5%.

Keir invests $1,200 in a standard savers account with a simple interest rate of 4%.

Omar invests $950 in a junior achievers account with a 6% annual compound interest rate.

Who will have the most money to spend on a new boat at the end of the five years? Use the formula I = P r t for simple interest and A = P (1 + r) Superscript t for compound interest. Round to the nearest dollar.
Keir will have $1,440, the most money for the boat.
Vanore will have the most money, $1,271, for the boat.
Omar will have the most money, $1,271, for the boat.
Vanore will have $1,440, the most money for the boat

ansver
Answers: 2

Another question on Mathematics

question
Mathematics, 21.06.2019 13:50
Given the function f(x) = 3x + 1, evaluate f(a + 1). a. 3a + 1 b. a + 2 c. 3a + 4
Answers: 1
question
Mathematics, 21.06.2019 18:00
If you had $1,900,000, how many days would it take you to spend all if you spent $1 a second. (there are 86,400 seconds in a day)
Answers: 1
question
Mathematics, 21.06.2019 18:40
The ratios 3: 9, 4: 12, 5: 15, and 6: 18 are a pattern of equivalent ratios in the ratio table. which is another ratio in this pattern?
Answers: 1
question
Mathematics, 22.06.2019 00:00
Asequence has a common ratio of and f(5) = 81. which explicit formula represents the sequence? f(x) = 24 f(x) = 16 f(x) = 24 f(x) = 16
Answers: 1
You know the right answer?
Three friends decide that they each want to be able to buy a new boat in five years. Vanore puts $1...
Questions
Questions on the website: 13722367