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Consider the two savings plans below. Compare the balances in each plan after 8 years. Which person deposited more money in the plan? Which of the two investment strategies is better? Yolanda deposits $100

per month in an account with an APR of 5%, while Zach deposits $ 1000 at the end of each year in an account with an APR of 5.5 %. The balance in Yolanda 's saving plan after 8 years was $

.

(Round the final answer to the nearest cent as needed. Round all intermediate values to seven decimal places as needed.)

Guest Oct 26, 2017
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 #1
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Im not much help i havent taken stats or whatever this is, but i do remember for problems like this you can refer to independent variables. x per a month and so.

Veteran  Oct 26, 2017
 #2
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Use exactly the same formula and procedure as in your first question. You must change the numbers !!!!

 

Yolanda's Account:

FV =$11,774.05 - Balance in Yolanda's account after 8 years.

 

Zach's Account:

FV =$9,721.57 - Balance in Zach's account after 8 years.

Guest Oct 26, 2017

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