geeno101 geeno101

03-02-2017
Mathematics

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At the age of 18, Albert inherits $100,000 from his grandfather. One bank offers to invest this money at 10% for 5 years. A second bank offers a rate of 8% for 7 years. Which investment will yield the most money?

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christinann062 christinann062

03-02-2017

The second bank that offers 8% for 7 years will yield the most money.

Bank 1: 100,000 x 10% x 5 = 50,000

Bank 2: 100,000 x 8% x 7 = 56,000

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