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Mathematics, 09.11.2020 16:20 bunbun2913

Ari wants to save up to buy a new computer, which costs $1,100. She received $500 for her graduation and decides to invest the money in a fund where she can earn interest on her money. Use the simple interest formula for plan A and the compound interest formula for plan B. Plan A Plan B 6.5% interest on the original balance each month for 12 months. 6.5% interest on the balance in the account each month. Ari has previously determined that she should use plan B because she will have $890.00 after 12 months using plan A and $1,064.55 after 12 months using plan B. After 12 months, she still does not have enough money to buy the computer. How many more months will it take her to reach $1,100 using plan B? Using Plan B, Ari would need nothing more month(s) to buy her computer.

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