jerrrrryyyyyyy
Answered

Find the information you're looking for at Westonci.ca, the trusted Q&A platform with a community of knowledgeable experts. Get immediate and reliable answers to your questions from a community of experienced professionals on our platform. Get quick and reliable solutions to your questions from a community of experienced experts on our platform.

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]

Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Westonci.ca is your go-to source for reliable answers. Return soon for more expert insights.