Franco invests some money at 6.9% per annum compounded annually and David invests some money at 6.9% per annum compounded monthly. After 30 years, each investment is worth $25,000. Who made the greater original investment and by how much? a) David made $204.20 greater original investment than Franco b) Franco made $204.20 greater original investment than David c) David made $224.20 greater original investment than Franco d) Franco made $402.40 greater original investment than David
Franco invests some money at 6.9% per annum compounded annually and David invests some money at 6.9% per annum compounded monthly. After 30 years, each investment is worth $25,000. Who made the greater original investment and by how much? a) David made $204.20 greater original investment than Franco b) Franco made $204.20 greater original investment than David c) David made $224.20 greater original investment than Franco d) Franco made $402.40 greater original investment than David
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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Franco invests some money at 6.9% per annum compounded annually and David invests some money at 6.9% per annum compounded monthly. After 30 years, each investment is worth $25,000. Who made the greater original investment and by how much?
a) David made $204.20 greater original investment than Franco
b) Franco made $204.20 greater original investment than David
c) David made $224.20 greater original investment than Franco
d) Franco made $402.40 greater original investment than David
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