Question
Consider the two savings plans below. Compare the balances in each plan after 7 years. Which person deposited more money in the plan? Which of the two investment strategies is better?
Yolanda deposits $550 per month in an account with an APR of 6%, while Zach deposits $ 7000 at the end of each year in an account with an APR of 6.5
What is the balance in Yolanda's savings plan after 7 years?
Yolanda deposits $550 per month in an account with an APR of 6%, while Zach deposits $ 7000 at the end of each year in an account with an APR of 6.5
What is the balance in Yolanda's savings plan after 7 years?