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Answered

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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.

Sagot :

nananyawo27

Answer:

compound interest

Step-by-step explanation:

compound interest yields higher profit than simple interest

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:

[tex]1 + .05t = 1(1.04)^t[/tex]

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