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Mathematics 12 Online
OpenStudy (anonymous):

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?

OpenStudy (rational):

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

OpenStudy (rational):

use below formula : \[P(1+r)^{t}\]

OpenStudy (anonymous):

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

OpenStudy (anonymous):

A= 2000 (1+0.06)^15

OpenStudy (anonymous):

option a is

OpenStudy (anonymous):

A= $4793.12

OpenStudy (anonymous):

?

OpenStudy (rational):

yes ! what about option B ?

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