Benjamin receives an annual bonus of $1,000 and wants to invest it in an account that earns interest for the next 3 years. Below are the two options that he is considering putting his money into. Which of the following statements is true? NEED ASAP PLS. Benjamin receives an annual bonus of $1,000 and wants to invest it in an account that earns interest for the next 3 years. Below are the two options that is considering putting his money into. Which of the following statements is true? Bank A 5% Simple Interest Bank B 5% Interest Compounded Annually Simple Interest: /= Prt; Compound interest A=P(1+r): After 3 years, Bank B will pay Benjamin $1875 more than Bank B. After 3 years, Bank B will pay Benjamin $3000 more than Bank A. After 3 years. Bank B will pay Beniamin $1007.63 more than Bank A

Benjamin receives an annual bonus of $1,000 and wants to invest it in an account that earns interest for the next 3 years. Below are the two options that he is considering putting his money into. Which of the following statements is true? NEED ASAP PLS. Benjamin receives an annual bonus of $1,000 and wants to invest it in an account that earns interest for the next 3 years. Below are the two options that is considering putting his money into. Which of the following statements is true? Bank A 5% Simple Interest Bank B 5% Interest Compounded Annually Simple Interest: /= Prt; Compound interest A=P(1+r): After 3 years, Bank B will pay Benjamin $1875 more than Bank B. After 3 years, Bank B will pay Benjamin $3000 more than Bank A. After 3 years. Bank B will pay Beniamin $1007.63 more than Bank A

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Please see attachment and type out the correct step by step answer with proper explanation of the each option given within 40 50 minutes . Will give upvote only for the correct answer.thank you .
Question 1 Due to health reasons, Dave is considering early retirement. He currently has $700,000 in a self- managed retirement fund. He thinks he will need S40,000 per year during retirement. He intends to invest his retirement in a low-risk mutual fund which return 1.5% per year. How many years can he live off this retirement fund without the need to look for a job?
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Answer all parts of the economics problem
Automobile repair shops typically recommend that their customers change their oil and oll filter every 4.500 miles. Your automobile user's manual suggests changing your oil every 6,500-8,000 miles. If you drive your car 87,750 miles each year and an oil and filter change costs S34, how much money would you save each year if you had this service performed every 6.500 miles? Your savings will be $ per year. (Round to the nearest cent.Y Enter your answer in the answer box