Ari wants to save up to buy a new computer, which costs $1,100. She received $500for her graduation and decides to invest her money in a fund where she can earninterest on her money. Use the simple interest formula I = prt.Plan A Plan B6.5% interest on the original balanceeach month for 12 months6.5% interest on the balance in theaccount each month1. How much money will Ari have after 12 months using Plan A?2. How much money will Ari have after 12 months using Plan B?3. Which investment fund should Ari use? Explain.4. After 12 months Ari still does not have enough to buy the computer. How manymore months will it take her to reach $1,100 using either plan? 1-4 EnrichmentLiteral Equations and FormulasAri wants to save up to buy a new computer, which costs $1,100. She received $500for her graduation and decides to invest her money in a fund where she can earninterest on her money. Use the simple interest formula l = prt.Plan APlan B6.5% interest on the original balance 6.5% interest on the balance in theeach month for 12 monthsaccount each month1. How much money will Ari have after 12 months using Plan A?2. How much money will Ari have after 12 months using Plan B?3. Which investment fund should Ari use? Explain.4. After 12 months Ari still does not have enough to buy the computer. How manymore months will it take her to reach $1,100 using either plan?

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Answered: Ari wants to save up to buy a new…

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

Ari wants to save up to buy a new computer, which costs $1,100. She received $500
for her graduation and decides to invest her money in a fund where she can earn
interest on her money. Use the simple interest formula I = prt.

Plan A Plan B

6.5% interest on the original balance
each month for 12 months

6.5% interest on the balance in the
account each month

1. How much money will Ari have after 12 months using Plan A?

2. How much money will Ari have after 12 months using Plan B?

3. Which investment fund should Ari use? Explain.

4. After 12 months Ari still does not have enough to buy the computer. How many
more months will it take her to reach $1,100 using either plan?