Question

Three different accounts are described below. Order the accounts according to their values after 10 years, from greatest to least.
You deposit $950 in an account that earns 9% annual interest compounded daily.
= You deposit $1000 in an account that earns 8% annual interest compounded daily.
= You deposit $1000 in an account that earns 9% annual interest compounded semiannually.
= You deposit $1000 in an account that earns 10% simple interest.

Answer 1

Answer:

`1. You deposit $950 in an account that earns 9% annual interest compounded daily.

2.You deposit $1000 in an account that earns 8% annual interest compounded daily.

3. You deposit $1000 in an account that earns 9% annual interest compounded semiannually.

Step-by-step explanation:

Trick question, number 3 says semiannually so it is only twice a year, so it is the least. In math papa or any algebra calculator, put in the two equations and compare which is greater, in this case, y = 950(1.09)^10 is greater than y=1000(1.08)^10