Need algebra help with: Which investment earns the greater amount of interest?

Anonymous
timer Asked: Dec 21st, 2015
account_balance_wallet $5

Question description

you are given a choice of taking the simple interest on $100,000 invested for 2 years at a rate of 3% or the interest on $100,000 invested for 2 years at an interest of 3% compounded daily. Which investment earns the greater amount of interest? Give the difference between the amounts of interest earned by the two investments

Tutor Answer

UC Berkeley

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Anonymous
Thanks, good work

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