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18.04.2021 •
Mathematics
Gomez isn’t sure what to do. Should he put his $3000 into an account paying 6% for 10 years compounded annually or should he put into an account paying 10% for five years?
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Ответ:
If these are the only two options, the most profitable is the first option (6% and 10 years).
Step-by-step explanation:
Giving the following information:
Initial investment (PV)= $3,000
Number of periods (n)= 10 years or 5 years
Interest rate (i)= 6% or 10%
To calculate the future value (FV), we need to use the following formula:
FV= PV*(1 + i)^n
6% interest rate:
FV= 3,000*(1.06^10)
FV= $5,372.54
10% interest rate:
FV= 3,000*(1.1^5)
FV= $4,831.53
If these are the only two options, the most profitable is the first option (6% and 10 years).
Ответ:
3, and 4 are the correct choices i just did the test on edgunuity 2020