Question

The scenario provided, what will be the key factor to determine when Nguyen and Marissa will have the same amount of money in their savings accounts?

A. Initial savings amount
B. Monthly withdrawal amount
C. Monthly deposit amount
D. Interest rate

Answer 1

The key factor to determine when Nguyen and Marissa will have the same amount of money in their savings accounts is the interest rate.

Step-by-step explanation:

The key factor to determine when Nguyen and Marissa will have the same amount of money in their savings account is the interest rate (D).

1. Initially, they may have different savings amounts (A), monthly withdrawal amounts (B), and monthly deposit amounts (C).
2. However, the interest rate will determine how fast their savings grow over time.
3. If both Nguyen and Marissa have the same interest rate, their savings will eventually reach the same amount after a certain period of time.