Nouchi has two investment options. Option A offers 9% annual interest with a $5000.00 principal and contributions

of $500 at the beginning of each month. Option B offers 8% annual interest with a $10,000.00 principal and

contributions of $300 at the beginning of the month.

If Nouchi plans to retire in 25 years, which option is the best choice for him?

Question

Kyle Hancock

Mathematics

21 August, 13:56

Nouchi has two investment options. Option A offers 9% annual interest with a $5000.00 principal and contributions

of $500 at the beginning of each month. Option B offers 8% annual interest with a $10,000.00 principal and

contributions of $300 at the beginning of the month.

If Nouchi plans to retire in 25 years, which option is the best choice for him?

+1

Answers (1)

Know the Answer?

Victoria Walls · Answer 1

Option B)

Step-by-step explanation:

ok so is 9% so 5000+450x-500

5000 + (450) (25) - 500

=15750

and and 8% 800 so 10000+800x-300

10000 + (800) (25) - 300

=29700