You have some money to invest in one of two accounts. The first account pays 5% simple interest, and the second pays 4% compound inter

Question

You have some money to invest in one of two accounts. The first account pays
5% simple interest, and the second pays 4% compound interest. How would
you decide which account to use? Discuss your answer.

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Thông Đạt 6 months 2021-07-29T02:08:41+00:00 2 Answers 11 views 0

Answers ( )

    0
    2021-07-29T02:09:48+00:00

    Answer:

    compound interest

    Step-by-step explanation:

    compound interest yields higher profit than simple interest

    0
    2021-07-29T02:10:24+00:00

    Answer:

    the simple interest function will be greater in the beginning, but the

    compound interest equation will overtake the simple after a while.

    it appears that the 4% compound equation will overtake the simple at about 10 years

    Step-by-step explanation:

    1 + .05t = 1(1.04)^t

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