Melissa has $1,000.00 to invest for 5 years. She can choose either simple interest at 6.4% interest, or compound interest at 12.
8% interest, compounded annually.
Which is the better investment?
A. A compound interest investment would be better, because Melissa would earn $826.19 in compound interest.
B. A simple interest investment would be better, because Melissa would earn $826.19 in simple interest.
C. A simple interest investment would be better, because Melissa would earn $320.00 in simple interest.
D. A compound interest investment would be better, because Melissa would earn $320.00 in compound interest.
1 answer:
Answer:
A
Step-by-step explanation:
simple interest
1000 x 6.4% x 5 = 320
compound int
1000(1+12.8/100)^5 - 1000=826.188
You might be interested in
Answer:
23,000
Step-by-step explanation:
brainliest
Answer:
simply multiply each number by -2
Step-by-step explanation:
7 * -2 = -14 -14 * -2
brainliest answer plz!
Answer:
a.)1/3
Step-by-step explanation:
Multiply by the inverse of the coefficient of h.
Answer:
X+2+4=6
Step-by-step explanation:
I HOPE IT HELP.......
