pinksparklenicole pinksparklenicole

Today at 7:26 PM
Mathematics

Answered

PLEASE HELP!!!

Patricia is investing money. She has $30,000.00 to invest for 25 years. She can choose either simple interest at 1.6% interest, or compound interest at 1.6% interest, compounded annually.

Which is the better investment?
A.
A compound interest investment would be better, because Patricia would earn $12,000.00 in compound interest.

B.
A compound interest investment would be better, because Patricia would earn $14,613.26 in compound interest.

C.
A simple interest investment would be better, because Patricia would earn $12,000.00 in simple interest.

D.
A simple interest investment would be better, because Patricia would earn $14,613.26 in simple interest.

Answer :

wolf1728 wolf1728

Today at 7:31 PM

Answer is B
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