131k views
16 votes
I got this question on my quiz a few weeks ago and was wondering if anyone could explain the best/correct answer.

I'm currently leaning towards the last option, but I'm not sure.

I got this question on my quiz a few weeks ago and was wondering if anyone could explain-example-1
User Chiragrtr
by
8.8k points

1 Answer

9 votes

Answer:

Easy it's B, this is because the rate at which we earn interest with only 1000$ does not keep up with the maintenance fee.

In B u get $1010 because of the interest after the first year,

In D u get $960 because if u get an annual interest of 2% from $1000 u get a total of $1020 but deduction from maintenance fee is $60 per year, Thus $1020-$60 = $960. Same explaination for the others as well.

User Ketura
by
8.3k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.