Question

You are given 2 investment options.
Option A: $2000 invested at 6% per year compounded annually.
Option B: $1500 invested at 7.2% per year, compounded annually.
Which is the better option after investing for 15 years and by how much?

Answer 1

calculate future value for both options and see which one gives you more money ?

Answer 2

use below formula :

\[P(1+r)^{t}\]

Answer 3

i got this Option A : A=P(1+i)^n

Answer 4

A= 2000 (1+0.06)^15

Answer 5

option a is

Answer 6

A= $4793.12

Answer 7

?

Answer 8

yes ! what about option B ?