Solve the Problem $\$ 815.29 ; \$ 815.29$ B) Kerry $\$ 612.51 ; \$ 1036.38$

question 82

Multiple Choice

Solve the problem.
-Kerry invests $362 in a savings account that earns 5.4% compounded annually. Andy invests $362 in a savings account that earns 7% compounded annually. How much is in each of their accounts
After 10 years and after 20 years?

• A) Kerry: \$680.45; \$680.45
• Andy: \(\$ 815.29 ; \$ 815.29\)
• B) Kerry: \(\$ 612.51 ; \$ 1036.38\)
• Andy: \$712.11; \$1400.83
• C) Kerry: \$581.13; \$983.29
• Andy: \$665.52; \$1309.18
• D) Kerry: \(\$ 551.36 ; \$ 839.77\)
• Andy: \$621.98; \$1068.68

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Definitions:

Production Costs

Expenses related to the manufacture of goods or delivery of services, including materials, labor, and overhead.

Average Product

The output per unit of input, calculated by dividing total product by the quantity of input.

Labor

The physical and mental effort used in the production of goods and services.

Marginal Product

The increase in output that arises from an additional unit of input.