Unit 6 Test Part A - Communication Question 1 of
Moana and Maui are in a competition at school to see who can make the most profit with their investment. Moana found a bank that will allow her to
invest her $15,000 in an account the is compounded quarterly with an interest rate of 6%. Maui found a bank that will allow him to invest the same
amount in an account that is compounded continuously with an interest rate of 5%.
1) Who's account is the better investment?
Make sure to explain your answer in 2-3 complete sentences using the monetary values from the problem.
Sentence stem:
's account is the better investment because...
2) How much money will Moana have in her account after 10 years? Show all your work, including the equation you use.
3) How much money will Maui have in his account after 10 years? Show all your work, including the equation you use
You can include a picture of the work for parts 2 and 3 if that is easier.
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