earned $6,500 this summer and plans to invest her money for 10 years, and she has two options to choose from. Option 1: invested at an annual rate of 14% compounded quarterly Option 2: invested at an annual rate of 11% compounded continuously Part A: Write an equation to find the ending amount for Option 1. Part B: Write an equation to find the ending amount for Option 2. Part C: Using your equations in Part A and B, find the ending amount for both options. Which option should Emma choose to maximize her earnings? Expla
For the three-part question that follows, provide your answer to each question in the given workspace. Identify each part with a coordinating response. Be sure to clearly label each part of your response as Part A, Part B, and Part C.
Emma is deciding how to invest the income from her summer job. She earned $6,500 this summer and plans to invest her money for 10 years, and she has two options to choose from.
Option 1: invested at an annual rate of 14% compounded quarterly
Option 2: invested at an annual rate of 11% compounded continuously
Part A: Write an equation to find the ending amount for Option 1.
Part B: Write an equation to find the ending amount for Option 2.
Part C: Using your equations in Part A and B, find the ending amount for both options. Which option should Emma choose to maximize her earnings? Explain your answer with a complete sentence.
Step by step
Solved in 2 steps with 2 images
