Ask a New Question

Morris has $1,000 to invest. He is considering two investment options.

Option A pays 0.5% simple interest.
Option B pays 0.75% interest compounded annually.

What is the value of each investment option at 5 years?

1 answer

1000(1 + 0.005*5) = ____
1000(1 + 0.0075)^5 = ____

Ask a New Question or answer this question.

Similar Questions

First Simple Bank pays 6 percent simple interest on its investment accounts. First Complex Bank pays interest on its accounts
1. 1 answer
Cliff has some money he wants to invest for his retirement. He is offered two options:1. 10%/a simple interest 2. 5%/a
1. 1 answer
Belinda wants to invest $1000. The table below shows the value of her investment under two different options for two different
1. 3 answers
First bank pays 7 percent simple interest on its investment accounts. If second bank pays interest on its accounts compounded
1. 4 answers

more similar questions