4. Ben has $100 in his savings account. He

is looking at two investment plans, Under

Plan A, he will increase his account

balance by $20 a year, Under Plan B, he

will increase his account balance by 15%

each year. Approximately how much will

Ben save after 3 years with each plan?

A Plan A: $160; Plan B: $145

B Plan A: $160; Plan B: $152

C Plan A: $173; Plan B: $152

Question

Christina Herrera

Mathematics

21 November, 07:58

4. Ben has $100 in his savings account. He

is looking at two investment plans, Under

Plan A, he will increase his account

balance by $20 a year, Under Plan B, he

will increase his account balance by 15%

each year. Approximately how much will

Ben save after 3 years with each plan?

A Plan A: $160; Plan B: $145

B Plan A: $160; Plan B: $152

C Plan A: $173; Plan B: $152

+5

Answers (1)

Know the Answer?

Mueller · Answer 1

Plan A: $160, Plan B: $152

Step-by-step explanation:

PLAN A

add 20 dollars a year you would get

year one = $120

year two = $140

year three = $160

PLAN B

multiple your value by 1.15 (adding 15%) each year

year one = 100 x 1.15 = 115

year two = 115 x 1.15 = 132.25

year three = 115 x 1.15 = 152.08