You have $10,000 to invest and want to keep your money invested for 10years. You are considering the following investment options. Choose the investment option that will earn you the most money. A. 2.89% compounded monthly B. 2.975% compounded quarterly C. 2.99% compounded annually D. 3.25% simple interest

Question

Mathematics

Davis Travis

28 March, 23:58

You have $10,000 to invest and want to keep your money invested for 10years. You are considering the following investment options. Choose the investment option that will earn you the most money. A. 2.89% compounded monthly B. 2.975% compounded quarterly C. 2.99% compounded annually D. 3.25% simple interest

+3

Answers (2)

Know the Answer?

Urijah Fuentes · Answer 1

A=10,000 * (1+0.0289:12) ^ (12*10)

A=13,346.28

A=10,000 * (1+0.02975:4) ^ (4*10)

A=13,450.07

A=10,000 * (1+0.0299) ^ (10)

A=13,426.12

A=10,000 * (1+0.0325*10)

A=13,250

So the answer is b

Journey Turner · Answer 2

14'802.44 because 10'000 times 1+0.04 is 14'802.44