SOLUTION: Tabitha would like to invest $1,000 she received for graduation. She is considering these options. A: 8% for 2 years B: 6% for 18 months C: 7% for 3 years D: 10% for 6

Question 1121982: Tabitha would like to invest $1,000 she received for graduation. She is considering these options.
A: 8% for 2 years
B: 6% for 18 months
C: 7% for 3 years
D: 10% for 6 months
Which option should Tabitha choose to end up with the largest balance?

Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
For the largest balance, time matters, so 8% for 2 years, or better yet, 7% for 3 years would appear the best
I=prt
since p is the same, just compare rt
a is .08*2=.16 return
b is .06*1.5=.09 return
c is .07*3=.21 return
d is .06*(.5)=.03 return
C.
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