15and explain how to solve i really want to understand it
karl opens a savings account with $2500. he deposits $1500 every year into the account that has a 0.75% interest rate, compounded monthly. if he doesn’t withdraw any money, what will the account balance be in 10 years?
$15,581.51
$15,571.78
$18,276.16
$18,266.43
sophia knows that she needs $42,000 for a 20% down payment on a house she can afford. she found an investment that earns 2.25% interest compounding monthly. how much should she put in the account now, rounded to the nearest dollar, to ensure she has the down payment amount in 5 years?
$11,052
$13,778
$37,070
$37,535
max has just won some money on a game show! he has the option to take a lump sum payment of $500,000 now or get paid an annuity of $4,900 per month for the next 10 years. assuming the growth rate of the economy is 2.9% compounding annually over the next 10 years, which is the better deal for max and by how much?
a. lump sum: by $77,462.75
b. lump sum: by $4,145.41
c. annuity: by $88,000.00
d. annuity: by $4,145.41
i think that answer for this is b. but explain.
lucas purchased 90 shares of stock in a computer company at $87.92 per share and peyton purchased 55 shares of stock in a different computer company for $72.03 per share. after holding the stock for two years, lucas sold his for a total of $8,476.20, and peyton sold hers for a total of $4,192.10. which person had a higher roi and by how much?
a. lucas: 1.3% more
b. peyton: 1.3% more
c. peyton: 5.8% more
d. lucas: 7.1% more
i think the answer for this is a but i still want to know how.