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The following table list two investment plans, A and B. Given this information, determine which investment is an ordinary annuity and the future value of the ordinary annuity after one year, given that both investments, A and B, compound interest monthly at the rate of 3.5%. Round to the nearest cent.

2 Answers

4 votes

Answer:

Investment B is an ordinary annuity with $3,906.64 in the account after 1 year

Explanation:

User Leo Lukin
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Answer:

The following table list two investment plans, A and B. Given this information, determine which investment is an ordinary annuity and the future value of the ordinary annuity after one year, given that both investments, A and B, compound interest monthly at the rate of 3.5%. Round to the nearest cent.

a.

Investment A is an ordinary annuity with $3,918.03 in the account after 1 year.

b.

Investment B is an ordinary annuity with $3,918.03 in the account after 1 year.

c.

Investment A is an ordinary annuity with $3,906.64 in the account after 1 year.

d.

Investment B is an ordinary annuity with $3,906.64 in the account after 1 year

Explanation:

IT IS D

User Theodor Keinstein
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