8. An investor can choose one of tw accounts: -Account A that pays 9% simple interest per annum. - Account B that pays 8% interest compounded annually. She has $17,000 to invest for a time of 7 years. Determine: a. The final amount of account A if chosen [3] b. The final amount of account B if chosen [2] с. Which account is the better investment? [1] 9. The value of a car decreases by 6% each year
8. An investor can choose one of tw accounts: -Account A that pays 9% simple interest per annum. - Account B that pays 8% interest compounded annually. She has $17,000 to invest for a time of 7 years. Determine: a. The final amount of account A if chosen [3] b. The final amount of account B if chosen [2] с. Which account is the better investment? [1] 9. The value of a car decreases by 6% each year
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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![8. An investor can choose one of two investment
accounts:
-Account A that pays 9% simple interest
per annum.
- Account B that pays 8% interest compounded
annually.
She has $17,000 to invest for a time of 7 years.
Determine:
a.
The final amount of account A if chosen
[3]
b.
The final amount of account B if chosen
[2]
с.
Which account is the better investment?
[1]
9. The value of a car decreases by 6% each year
after purchase. If a car was originally purchased
for $60,000, what is its value after 5 years? [2]](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8e2f7b72-452e-4cac-801e-05b965d6cffb%2F72746df7-9266-489a-9d09-e5aaac7f97f6%2Favgnp5j_processed.jpeg&w=3840&q=75)
Transcribed Image Text:8. An investor can choose one of two investment
accounts:
-Account A that pays 9% simple interest
per annum.
- Account B that pays 8% interest compounded
annually.
She has $17,000 to invest for a time of 7 years.
Determine:
a.
The final amount of account A if chosen
[3]
b.
The final amount of account B if chosen
[2]
с.
Which account is the better investment?
[1]
9. The value of a car decreases by 6% each year
after purchase. If a car was originally purchased
for $60,000, what is its value after 5 years? [2]
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