SOLUTION: Is it C? I'm checking my answers. Carla plans to invest $9,000 for 10 years. Better Bank offers a 10 year CD at an annual rate of 4% using simple interest. How much is the inves

Algebra ->  Sequences-and-series -> SOLUTION: Is it C? I'm checking my answers. Carla plans to invest $9,000 for 10 years. Better Bank offers a 10 year CD at an annual rate of 4% using simple interest. How much is the inves      Log On


   

Question 1160606: Is it C? I'm checking my answers.
Carla plans to invest $9,000 for 10 years. Better Bank offers a 10 year CD at an annual rate of 4% using simple interest. How much is the investment worth?

A .$3,600
B. $9,000
C. $12,000
D. $18,000

The question is provided in the link here: https://i.imgur.com/VEqsAqF.png
Found 3 solutions by MathLover1, solver91311, MathTherapy:
Answer by MathLover1(20850) About Me  (Show Source):
Answer by solver91311(24713) About Me  (Show Source):
You can put this solution on YOUR website!


No. The investment is worth what it earns, not the total amount you have at the end of it.


John

My calculator said it, I believe it, that settles it

Answer by MathTherapy(10552) About Me  (Show Source):
You can put this solution on YOUR website!
Is it C? I'm checking my answers.
Carla plans to invest $9,000 for 10 years. Better Bank offers a 10 year CD at an annual rate of 4% using simple interest. How much is the investment worth?

A .$3,600
B. $9,000
C. $12,000
D. $18,000

The question is provided in the link here: https://i.imgur.com/VEqsAqF.png
She's WRONG, as usual, and that's very MISLEADING.

Present Value/Amount invested TODAY: $9,000

Future Value in 10 years' time, based on ANNUAL simple interest rate of 4%: $12,600

Investment is worth: