ckameel ckameel

07-02-2020
Mathematics

contestada

If you invested $500 at 5% simple interest for 2 years, how much interest do you earn? Show work and answer in
complete sentences to earn full credit.
If you invest $500 at 3% compounded monthly for 2 years, how much interest you do earn? Show work and
answer in complete sentences to earn full credit.
Which would you rather do?

Respuesta :

jordankrishnayah2006 jordankrishnayah2006

07-02-2020

Answer:

For simple interest, you would earn 25 a year, or 50 for 2 years. at the 3 percent compounded interest, you would earn 24.45. So I would choose the simple interest

Step-by-step explanation:

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