Lana and Ron each opened a separate bank account with $1000. They were both offered a 4.5% interest rate for 2 years. After 2 years, Lana's account had more money than Ron's. What could explain the difference?
A. Lana's account earned simple interest; Ron's account earned compound interest.
B. Lana invested funds for a longer time period.
C. Lana's account had a higher interest rate.
D. Lana's account earned compound interest; Ron's account earned simple interest.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Lana and Ron each opened a separate bank account with $1000. They were both offered a 4.5% interest rate for 2 years. After 2 years, Lana's ...” 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
Our basketball team has 10 players. we need to divide into two teams of 5 for an intra-squad scrimmage. in how many ways can we do this without restrictions?
Answers (1)
How many water molecules are in this graduated cylinder? show your work
Answers (1)
Use the graph of the polynomial function to find the factored form of the related polynomial. Assume it has no constant factor. O A. (x - 1) (x-8) O B. (x - 1) (x+8) C. (x + 1) (x+8) O D. (x + 1) (x - 8)
Answers (1)
A moving truck is rented at $1,000 per day plus a charge per hour of use. The moving truck was used for 9 hours one day, and the total charge was $2,700. Which equation can be used to find the charge x, in dollars, per hour of use?
Answers (2)
Imagine 585 on the place value chart. How many ones, tens, and hundreds are in each place?
Answers (1)
New Questions in Mathematics
A coach on a basketball team ordered jerseys for each player. Each one cost $12.95. The shipping charge for the entire order was a one-time fee of $20. The coach spent under $125 for the shirts and the fee.
Answers (1)
A type of ribbon costs $0.32 per yard. How much do 4.5 yards of the ribbon cost?
Answers (1)
Between which two square roots of integers could you find π?
Answers (2)
A fraction with a zero in the numerator equals
Answers (1)
Trella Alcala deposited 1950.00 in a new credit union savings account on the first of the quarter. The principal earns 4.25 percent interest compounded quarterly. What was the amount in her account at the end of the 6 months?
Answers (1)