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Consider the two savings plans below. Compare the balances in each plan after 6 years. Which person deposited more money in the plan? Which of the two investment strategies is better? Juan deposits 300 per month in an account with an APR of 3% while Maria deposits 4000 at the end of each year in an account with an APR of 3.5% (Do not round until the final answer. Then round to the nearest cent as needed.) The balance in Maria's saving plan after 6 years was 26200.61 (Do not round until the final answer. Then round to the nearest cent as needed.) Which person deposited more money in the plan?Select the correct choice below and, if necessary,fill in the answer boxes es within your choice. A. Maria deposited more money in her savings plan because 5 B. Juan deposited more money in his savings plan because gt C. Neither, they deposited the same amount of money in their savings plans.

Pergunta

Consider the two savings plans below. Compare the balances in each plan after 6 years. Which person deposited more money in the plan? Which of the two investment strategies is better? Juan deposits 300 per month in an account with an APR of 3% while Maria deposits 4000 at the end of each year in an account with an APR of 3.5% (Do not round until the final answer. Then round to the nearest cent as needed.) The balance in Maria's saving plan after 6 years was 26200.61 (Do not round until the final answer. Then round to the nearest cent as needed.) Which person deposited more money in the plan?Select the correct choice below and, if necessary,fill in the answer boxes es within your choice. A. Maria deposited more money in her savings plan because 5 B. Juan deposited more money in his savings plan because gt C. Neither, they deposited the same amount of money in their savings plans.

Consider the two savings plans below. Compare the balances in each plan after 6 years. Which person deposited more money in the plan? Which of the two investment strategies is better? Juan deposits 300 per month in an account with an APR of 3% while Maria deposits 4000 at the end of each year in an account with an APR of 3.5% (Do not round until the final answer. Then round to the nearest cent as needed.) The balance in Maria's saving plan after 6 years was 26200.61 (Do not round until the final answer. Then round to the nearest cent as needed.) Which person deposited more money in the plan?Select the correct choice below and, if necessary,fill in the answer boxes es within your choice. A. Maria deposited more money in her savings plan because 5 B. Juan deposited more money in his savings plan because gt C. Neither, they deposited the same amount of money in their savings plans.

Solução

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LolaProfissional · Tutor por 6 anos

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To determine which person deposited more money in their savings plan, we need to calculate the total amount deposited by each person over the 6-year period.<br /><br />Juan deposits $\$300$ per month, so in a year, he deposits $300 \times 12 = \$3600$. Over 6 years, Juan deposits $3600 \times 6 = \$21600$.<br /><br />Maria deposits $\$4000$ at the end of each year, so over 6 years, she deposits $4000 \times 6 = \$24000$.<br /><br />Comparing the two amounts, Maria deposited more money in her savings plan because $\$24000 > \$21600$.<br /><br />Therefore, the correct choice is A. Maria deposited more money in her savings plan because $\$24000 > \$21600$.
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