Consider the two savings plans below. Compare the balances in each plan after 6 years. Which person deposited more money in the plan? Which of the two investment strategies is better? Yolanda deposits $450 per month in an account with an APR of 6%, while Zach deposits $5000 at the end of each year in an account with an APR of 6.5%. The balance in Yolanda's saving plan after 6 years was $. (Round the final answer to the nearest cent as needed. Round all intermediate values to seven decimal places as needed.) The balance in Zach's saving plan after 6 years was $ (Round the final answer to the nearest cent as needed Round all intermediate values to seven decimal places as needed.) Which person deposited more money in the plan? OA. Zach deposited more money in his savings plan. OB. Yolanda deposited more money in her savings plan. OC. Neither, they deposited the same amount of money in their savings plans. Which of the two investment strategies was better? OA. Yolanda's investment strategy was better because she had a larger total return after 6 years. OB. Neither plan was better than the other because both plans yield the same total return after 6 years. OC. Zach's investment strategy was better because he had a larger total return after 6 years.
Consider the two savings plans below. Compare the balances in each plan after 6 years. Which person deposited more money in the plan? Which of the two investment strategies is better? Yolanda deposits $450 per month in an account with an APR of 6%, while Zach deposits $5000 at the end of each year in an account with an APR of 6.5%. The balance in Yolanda's saving plan after 6 years was $. (Round the final answer to the nearest cent as needed. Round all intermediate values to seven decimal places as needed.) The balance in Zach's saving plan after 6 years was $ (Round the final answer to the nearest cent as needed Round all intermediate values to seven decimal places as needed.) Which person deposited more money in the plan? OA. Zach deposited more money in his savings plan. OB. Yolanda deposited more money in her savings plan. OC. Neither, they deposited the same amount of money in their savings plans. Which of the two investment strategies was better? OA. Yolanda's investment strategy was better because she had a larger total return after 6 years. OB. Neither plan was better than the other because both plans yield the same total return after 6 years. OC. Zach's investment strategy was better because he had a larger total return after 6 years.
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter19: Capital Investment
Section: Chapter Questions
Problem 8E
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Transcribed Image Text:Consider the two savings plans below. Compare the balances in each plan after 6 years. Which person deposited more money in the plan? Which of the two investment strategies is better?
Yolanda deposits $450 per month in an account with an APR of 6%, while Zach deposits $5000 at the end of each year in an account with an APR of 6.5%.
The balance in Yolanda's saving plan after 6 years was $
(Round the final answer to the nearest cent as needed. Round all intermediate values to seven decimal places as needed.)
The balance in Zach's saving plan after 6 years was $
(Round the final answer to the nearest cent as needed. Round all intermediate values to seven decimal places as needed.)
Which person deposited more money in the plan?
OA. Zach deposited more money in his savings plan.
O B. Yolanda deposited more money in her savings plan.
OC. Neither, they deposited the same amount of money in their savings plans.
Which of the two investment strategies was better?
O A. Yolanda's investment strategy was better because she had a larger total return after 6 years.
OB. Neither plan was better than the other because both plans yield the same total return after 6 years.
OC. Zach's investment strategy was better because he had a larger total return after 6 years.
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