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31 October, 10:50

Andrew has $2300 to invest for the next 10 years. He has three options for investment.

Option A: The interest rate is 3% compounded monthly.

Option B: The interest rate is 5% compounded quarterly.

Option C: The interest rate is 7% compounded annually.

Which option yields the greatest return on Andrew's investment?

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Answers (2)
  1. 31 October, 11:05
    0
    Option C

    Step-by-step explanation:

    .07 at 3500 for 10 years annually gives a 24.58 return. Option C will give Andrew the most in return.
  2. 31 October, 11:08
    0
    Option C

    Step-by-step explanation:

    .03 at 3500 for 10 years monthly will give a 10.52 return.

    .05 at 3500 for 10 years quarterly will give a 17.54 Return.

    .07 at 3500 for 10 years annually gives a 24.58 return. Option C is the best one for him to choose.
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Home » Mathematics » Andrew has $2300 to invest for the next 10 years. He has three options for investment. Option A: The interest rate is 3% compounded monthly. Option B: The interest rate is 5% compounded quarterly.
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