Answered step by step
Verified Expert Solution
Question
...
1 Approved Answer
Question 5 O out of 5 points XYZ just deposited $3,500 in an account that will earn 7.2 percent per year in compound interest for
Question 5 O out of 5 points XYZ just deposited $3,500 in an account that will earn 7.2 percent per year in compound interest for 8 years. If jelena deposits $4,000 in an account in 3 years that earns simple interest, then how much simple interest per year must Jelena earn to have the same amount of money in 8 years from today as XYZ will have in 8 years from today? 6.58% (plus or minus.02 percentage points) 6.58% (plus or minus .02 percentage points) 5. 10.52% (plus or minus.02 percentage points) 8.82% (plus or minus .02 percentage points) H. 12.02% (plus or minus .02 percentage points) None of the above is within .02 percentage points of the correct answer . 2. -OK
![image text in transcribed](https://s3.amazonaws.com/si.experts.images/answers/2024/07/66904d1a83108_95366904d19cec66.jpg)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started