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

Chris Weiss

30 March, 03:07

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?

Coleman · Answer 1

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

Cornelius Valencia · Answer 2

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