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6. Yu is considering two different banks for his $3,000 savings account: OPTION A 4% FOR 20 YEARS SIMPLE INTEREST OPTION B 2% FOR 10 YEARS COMPOUND INTEREST 8 What is the interest earned on option A? O What is the total value on option A? What is the interest earned on option B? O What is the total value on option B? 10 Which is the better option?

6. Yu is considering two different banks for his $3,000 savings account: OPTION A 4% FOR 20 YEARS SIMPLE INTEREST OPTION B 2% FOR 10 YEARS COMPOUND INTEREST 8 What is the interest earned on option A? O What is the total value on option A? What is the interest earned on option B? O What is the total value on option B? 10 Which is the better option?

College Algebra
College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter8: Sequences, Series,and Probability
Section8.2: Arithmetic Sequences And Partial Sums
Problem 9ECP: A company sells $160,000 worth of printing paper during its first year. The sales manager has set a...
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1 2 3 4 5 6 7 8 9. 10 11 Compound Interest 6. Yu is considering two different banks for his $3,000 savings account: zoom in 8 ?/1 OPTION B 2% FOR 10 YEARS COMPOUND INTEREST OPTION A 4% FOR 20 YEARS SIMPLE INTEREST 9 8 What is the interest earned on option A? ?/1 The compound interest earned on 9 What is the total value on option A? Option B is $656.98 The total value on Option B is $3656.98 What is the interest earned on option B? 10 Option A d What is the total value on option B? ?/1 Option B 10 Which is the better option? O O
Transcribed Image Text:1 2 3 4 5 6 7 8 9. 10 11 Compound Interest 6. Yu is considering two different banks for his $3,000 savings account: zoom in 8 ?/1 OPTION B 2% FOR 10 YEARS COMPOUND INTEREST OPTION A 4% FOR 20 YEARS SIMPLE INTEREST 9 8 What is the interest earned on option A? ?/1 The compound interest earned on 9 What is the total value on option A? Option B is $656.98 The total value on Option B is $3656.98 What is the interest earned on option B? 10 Option A d What is the total value on option B? ?/1 Option B 10 Which is the better option? O O
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