Larry is evaluating the best way to invest $5,000. How much more money, to the nearest dollar, will he earn on his
investment at 1% compound interest for 10 years than at
19% simple interest for 10 years?

the answer is:

the correct option:

b.

to solve the problem, we need to remember how to operate to simplify exponential expressions using the logarithms.

we are given the equation:

then, using placing logarith with base 7 on both sides of the equation, we have:

so, rounding the obtained result to two decimal places (nearest hundreth), we have:

hence, we have that the correct option:

b.

have a nice day!