subject
Mathematics, 01.02.2021 07:20 djmccarter

Joe and Michael are saving money for college. They both invested money in CDs at the same bank that pays an annual compound interest rate of 1.5%. Joe invested $500 every year for 15 years. Michael invested $700 every year for 5 years. Which statements about Joe and Michael's investments for college is most likely to be true?

A. Joe and Michael will have the same amount of money in their college savings accounts.

B. Joe will have more money in his account because he invested regularly over a longer period of time.

C. Michael will have more money in his account than
Joe because he invested more money each year.

D. It is impossible to determine whether Joe or Michael will have more money in their accounts.

ansver
Answers: 2

Another question on Mathematics

question
Mathematics, 21.06.2019 14:00
Chanelle deposits $7,500 into the bank. she does not withdraw or deposit money for 6 years. she earns 6% interest during that time. what will the balance be when she is finally able to withdraw her money?
Answers: 1
question
Mathematics, 22.06.2019 00:00
If (x + 8) is a factor of f(x), which of the following must be true? both x = –8 and x = 8 are roots of f(x). neither x = –8 nor x = 8 is a root of f(x). f(–8) = 0 f(8) = 0
Answers: 3
question
Mathematics, 22.06.2019 03:10
Factor 15x^3 - 5x^2 +6x-2 by grouping. what is the resulting expression
Answers: 3
question
Mathematics, 22.06.2019 03:30
Acone is placed inside a cylinder. the cone has half the radius of the cylinder, but the height of each figure is the same. the cone is tilted at an angle so its peak touches the edge of the cylinder’s base. what is the volume of the space remaining in the cylinder after the cone is placed inside it?
Answers: 1
You know the right answer?
Joe and Michael are saving money for college. They both invested money in CDs at the same bank that...
Questions
question
Arts, 19.01.2021 22:00
question
Mathematics, 19.01.2021 22:00
question
Chemistry, 19.01.2021 22:00
Questions on the website: 13722367