Gretta, Trisha, and Steve are investing money in hopes of becoming millionaires. All accounts have annual compound interest. Gretta invests $2,000 in an account that promises 10% growth every year. Trisha invests $1,000 in an account that promises 15% growth every year. Steve invests $2,000 in an account that promises 5% growth every year. Before doing any math, who do you predict will become a millionaire first?

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter10: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 442RE: Jerome invests $18,000 at age 17. He hopes the investments will be worth $30,000 when he turns 26....
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Gretta, Trisha, and Steve are investing money in hopes of becoming millionaires. All accounts have annual compound interest.
Gretta invests $2,000 in an account that promises 10% growth every year. Trisha invests $1,000 in an account that promises 15% growth every year. Steve
invests $2,000 in an account that promises 5% growth every year.
Before doing any math, who do you predict will become a millionaire first?
Transcribed Image Text:Gretta, Trisha, and Steve are investing money in hopes of becoming millionaires. All accounts have annual compound interest. Gretta invests $2,000 in an account that promises 10% growth every year. Trisha invests $1,000 in an account that promises 15% growth every year. Steve invests $2,000 in an account that promises 5% growth every year. Before doing any math, who do you predict will become a millionaire first?
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