When a child was born, her grandfather decides to put $500 in an account that earns interest. He plans to make no other deposits or withdrawals for 18 years. When the child turns 18 years old, the money in the account will be a birthday gift. The grandfather is choosing between two options: Option A: An account that grows by 10.5% each year. Option B: An account that grows by $20 each year. Which option will result in a better 18th birthday gift? Explain your reasoning.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “When a child was born, her grandfather decides to put $500 in an account that earns interest. He plans to make no other deposits or ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Round to the nearest number. 59,450
Answers (1)
What is the difference between a rate and a unit rate? Show an example
Answers (1)
Which is bigger?''2/5 or 0.25''
Answers (2)
Consider the following information. 1 hour = 3.6 · 103 seconds 1 day = 24 hours 1 year = 3.65 · 102 days Use scientific notation to calculate the number of seconds in one day. Answer choices 86.4 · 104 seconds 0.864 · 101 seconds 8.
Answers (1)
K+29=9k-4 what is the variable
Answers (1)
New Questions in Mathematics
The regular price of a calculator is $15.40. it goes on sale for 30% off the regular price. what is the amount of savings on the calculator
Answers (1)
If two angles are complementary and one angle is 52°, what is the measure of the other angle? 38° 52° 128° 90
Answers (1)
How to find x and y for 4 (x+1) = 4x+2+2
Answers (1)
What is a solution I forgot the inequality M > 13/6
Answers (1)
Find a polar equation of the form r=f (θ) for the curve represented by the cartesian equation x=-y2.
Answers (1)