Herky and Elaina want to compare their investment accounts to see how much they will have in the accounts after eight years. The
y substitute their values shown below into the compound interest formula. Compound Interest Accounts Name Principal Interest Rate Number of Years Compounded Herky $500 5% 8 Once a year Elaina $400 6% 8 Once a year A = P (1 + r) Superscript t Which pair of equations would correctly calculate their compound interests? Herky: A = 500 (1 + 0.08) Superscript 5, Elaina: A = 400 (1 + 0.08) Superscript 6 Herky: A = (500 times 1) + (0.05) Superscript 8, Elaina: A = (400 times 1) + (0.06) Superscript 8 Herky: A = 500 (1 + 0.05) Superscript 8, Elaina: A = 400 (1 + 0.06) Superscript 8 Herky: A = (500 times 1) + (0.05) Superscript 8, Elaina: A = (400 times 1) + (0.05) Superscript 8
