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Advanced Engineering Mathematics
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ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
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Transcribed Image Text:Bella received $1,200 after winning a national mathematics competition.
She plans to invest this money for 5 years.
Her bank offers 2 different saving options:
Option A: Customers receive a simple interest rate of 7.8%.
How much money will be in Bella's account after 5 years if she chooses option A?
Option B: Customers receive compound interest of 7.2%.
How much money will be in Bella's account after 5 years if she chooses option B?
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If you are a customer adviser, which option would you recommend to Bella?
Option A
Option B
A Exit
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Transcribed Image Text:swsi.bksblive2.com.au/bksbLive2/PlayAssessment.aspx?ID=62488&CourselD=oz_maths_plus&ExitUrl=%2fbksbLive2%2fStudent%2fStudentModule.aspx%3fModulelD%3DMOD..
1.4 ACSF L5 SC Number: Simple and Compound Interest
Noah invests $3,600 for two years.
The account pays 0.43% monthly compound interest. To the nearest cent, what's the total that will be in Noah's account after two
years?
bksb 2021
A Exit
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