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Melanie invested $2,500 at 5% for 15 years. Josiah invested $1,000 at 10% for five years. Who will earn the most money over time?

Melanie invested $2,500 at 5% for 15 years. Josiah invested $1,000 at 10% for five years. Who will earn the most money over time?
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Melanie invested $2,500 at 5% for 15 years. Josiah invested $1,000 at 10% for five years. Who will earn the most money over time?

asked
User Alexander Fuchs
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7.9k points

1 Answer

4 votes

Answer:

Melaine

Explanation:


\text{Melaine's Total Earnings}=\$2500(1.05)^(15)=\$5197.32\\\text{Josiah's Total Earnings}=\$1000(1.10)^(10)=\$2593.74

Therefore, Melaine will earn the most money over time

answered
User Nico TeWinkel
by
8.0k points
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