Consider the two savings plans below. Compare the balances in each plan after 77 years. Which person deposited more money in the plan? Which of the two investment strategies is better? Yolanda deposits $600 per month in an account with an APR of 44%, while Zach deposits $7200 at the end of each year in an account with an APR of 44%. The balance in Yolanda's saving plan after 77 years was $

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

Guest Oct 25, 2017

#1**0 **

Use the same formula that I used in the first question after 88 years.

Your Interest rate should be 4.4% APR and NOT 44% !!!!.

Yolanda's Account:

**FV =$4,651,166.97 - Balance of Yolanda's account after 77 years.**

Zach's Account:

**FV =$4,342,644.09 - Balance of Zach's account after 77 years. **

Guest Oct 25, 2017

#3**0 **

Just try to imagine how much money Yolanda and Zach would have if the APR was 44%...

Mathhemathh
Oct 26, 2017