Question

Grandma says Baby Bertha (BB) should get $1000 at birth plus $50 per year. Grandpa disagrees; he thinks BB should get $1000 at birth plus an additional 4% of the accumulated amount each year. Grandma and Grandpa will continue to contribute additional funds into the account as long as BB doesn’t make a withdrawal. Which option should BB’s parents select? Why?

Answer 1

Answer:

Big Betty's parents should side with Grandpa

Step-by-step explanation:

although $50 would be better in the first few years, 4% will get exponentially higher and eventually pass $50 by quiet a bit.

hope this helps :)

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