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5 votes
Michael has two options to invest $10,000. Which option will earn the most money?

A. 6% simple interest for 10 years.

B. 5% simple interest for 12 years.

C. They are the same.

2 Answers

0 votes
They are both the same because when you Multiply 10,000 and 6% you get 600 and then you multiply that by 10 years you get 6,000 dollars and than you do the same with the 5% but multiply the sum by 12 years and you get 6,000 also so gives you that they are both the some income so I would say Michael should just keep the $10,000
User Harsha Jasti
by
7.7k points
4 votes

Answer:

C. is correct

Explanation:

10,000*0.06=600*10=6,000

10,000*0.05=500*12=6,000

So, they are both the same :[

User Licky Lindsay
by
8.5k points

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