Question

Select the correct answer from each drop-down menu.

Elwood invested $5,000 in a money market account and has been tracking its progress. He found that after 3 years, the account held $7,100 and after 8 years, the account held $10,350.

Use this information to complete the statements.

Over the first 3 years, the value of the account increased at _____ A. a faster rate per year than, B. the same rate per year as, C. a slower rate per year than
over the last 5 years. Over the entire 8 years, the value of the account increased at an average rate of approximately $____ A. 720 B. 650 C. 700 D. 670
annually.

Answer 1

[AI-generated answer — Bot GPT 3.5]

Over the first 3 years, the value of the account increased at C. a slower rate per year than over the last 5 years.

Over the entire 8 years, the value of the account increased at an average rate of approximately $ D. 670 annually.