Ask Question
12 March, 16:40

Andrew has $2300 to invest for the next 10 years. He has three options for investment.

Option A: The interest rate is 3% compounded monthly.

Option B: The interest rate is 5% compounded quarterly.

Option C: The interest rate is 7% compounded annually.

Which option yields the greatest return on Andrew's investment?

+4
Answers (2)
  1. 12 March, 17:21
    0
    Option C

    Step-by-step explanation:

    .03 at 3500 for 10 years monthly will give a 10.52 return.

    .05 at 3500 for 10 years quarterly will give a 17.54 Return.

    .07 at 3500 for 10 years annually gives a 24.58 return. Option C is the best one for him to choose.
  2. 12 March, 19:16
    0
    Option C

    Step-by-step explanation:

    .07 at 3500 for 10 years annually gives a 24.58 return. Option C will give Andrew the most in return.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Andrew has $2300 to invest for the next 10 years. He has three options for investment. Option A: The interest rate is 3% compounded ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers