Three years ago, Elsie invested $$7,480\mathrm{.}00.$ She has earned and will earn compound interest of $3\mathrm{.}20$ percent per year. In

one year from today, Michelle can make an investment and earn simple interest of $13\mathrm{.}84$ percent per year. If Michelle

wants to have as much in $5$ years from today as Elsie will have in $5$ years from today, then how much should Michelle

invest in one year from today?

An amount equal to or greater than $$5,380\mathrm{.}00$ but less than $$6,928\mathrm{.}00$

An amount equal to or greater than $$6,928\mathrm{.}00$ but less than $$8,096\mathrm{.}00$

An amount equal to or greater than $$8,096\mathrm{.}00$ but less than $$8,966\mathrm{.}00$

An amount less than $$3,418\mathrm{.}00$ or an amount greater than $$8,966\mathrm{.}00$

An amount equal to or greater than $$3,418\mathrm{.}00$ but less than $$5,380\mathrm{.}00$

QUESTION $2$

Three years ago, Nicole invested $$7,600\mathrm{.}00.$ She has earned and will earn compound interest of $3\mathrm{.}40$ percent per year.

In one year from today, Heather can make an investment and earn simple interest of $13\mathrm{.}49$ percent per year. If Heather

wants to have as much in $5$ years from today as Nicole will have in $5$ years from today, then how much should Heather

invest in one year from today?

An amount equal to or greater than $$5,613\mathrm{.}00$ but less than $$7,128\mathrm{.}00$

An amount equal to or greater than $$7,128\mathrm{.}00$ but less than $$8,274\mathrm{.}00$

An amount equal to or greater than $$3,506\mathrm{.}00$ but less than $$5,613\mathrm{.}00$

An amount equal to or greater than $$8,274\mathrm{.}00$ but less than $$9,209\mathrm{.}00$

An amount less than $$3,506\mathrm{.}00$ or an amount greater than $$9,209\mathrm{.}00$Which assertion is t

Person Amount invested Time that funds are invested Annual return on investment

Albert will have more money in $10$ years than Brooke will have in $10$ years and Cassius will have more money in $10$ years

than Albert will have in $10$ years

Albert will have more money in $10$ years than Brooke will have in $10$ years and Albert will have more money in $10$ years than

Cassius will have in $10$ years

Brooke will have more money in $10$ years than Albert will have in $10$ years and Albert will have more money in $10$ years than

Cassius will have in $10$ years

Brooke will have more money in $10$ years than Albert will have in $10$ years and Cassius will have more money in $10$ years

than Albert will have in $10$ years