1 LETonya opens two savings accounts with an Initial deposit of $100 In each. The graph shows the anticipated growth of each savings account over a 20-year period. Compared Savings Account Growth 160 150 140 130 120 110 100 5. 20 10 Years --Savings Account B 15 Savings Account A Assuming both accounts earn interest at the same rate, which statement best explains the difference in the account balances? A Savings account A earns interest that is compounded annually, while savings B Savings account A accrues simple interest, while savings account B earns interest that is compounded annually. C Both savings account A and savings account Bearn simple interest. but savings account B has more money added to the account. D Not endough information is orovided about the interest being earned on the two accounts to determine the difference. Account Balance

1 LETonya opens two savings accounts with an Initial deposit of $100 In each. The graph shows the anticipated growth of each savings account over a 20-year period. Compared Savings Account Growth 160 150 140 130 120 110 100 5. 20 10 Years --Savings Account B 15 Savings Account A Assuming both accounts earn interest at the same rate, which statement best explains the difference in the account balances? A Savings account A earns interest that is compounded annually, while savings B Savings account A accrues simple interest, while savings account B earns interest that is compounded annually. C Both savings account A and savings account Bearn simple interest. but savings account B has more money added to the account. D Not endough information is orovided about the interest being earned on the two accounts to determine the difference. Account Balance

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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Question

1 LaTonya opens two savinges accounts with an
Initial deposit of $100 In each. The graph shows
the anticipated growth of each savings account
over a 20-year period.
Compared
Savings Account Growth
160
150
140
130
120
110
100
20
10
Years
--Savings Account B
15
Savings Account A
Assuming both accounts earn interest at the
same rate, which statement best explains the
difference in the account balances?
A Savings account A earns interest that
is compounded annually, while savings
account B accrues simple interest.
B Savings account A accrues simple interest,
while savings account B earns interest that
is compounded annually.
C Both savings account A and savings account
Bearn simple interest. but savings account
B has more money added to the account.
D Not enough information is orovided about
the interest being earned on the two
accounts to determine the difference.
Account Balance

2 Demitri's parents begin saving for his college
fund when Demitri is 10 years old. They invest
$5,000 in a CD that earms 1.2% Interest
compounded annually. When Demitri turns 18,
he decides to attend a local community college
for two years. One year of courses at the
community college costs approximately
$2,700. Is there enough money available from
the CD to pay for the first two years of Demitri's
college education?
F Yes, the CD earns compound interest so
the investment is more than double after
5 years.
G No, the CD earns compound interest so the
Investment is charged a monthly fee and
loses money over 8 years.
H Yes, the CD earns over $500 in interest over
J No, the CD earns $480 in interest over
8 years.
#3 -
3 Ailen opens a retirement savings account wilh
an in tial deposit of $5,000. He makes annual
L

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