Question

Consider the two savings plans below. Compare the balances in each plan after

1111

years. Which person deposited more money in the​ plan? Which of the two investment strategies is​ better?

YolandaYolanda

deposits

​$450450

per month in an account with an APR of

55​%,

while

ZachZach

deposits

$ 5000$5000

at the end of each year in an account with an APR of

5.55.5​%.

The balance in

YolandaYolanda​'s

saving plan after

1111

years was ​$

.

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

Answer 1

On observing the question, I found that the data in figures are written in repeatation, i.e. $500$500 is written in place of $500.

Therefore the actual data in my observation is :

11 years in place of 1111 years

$450 in place of $450450

5% in place of 55%

$500 in place of $500$500

5.5% in place of 5.55.5%

Please upvote my answer!

Thank you!