Time remaining:
which account will have a greater balance after 2 years?

Mathematics
Tutor: None Selected Time limit: 0 Hours

betty deposits @00 into an account that earns 5% interest compounded annually. mike deposits the same amount into an account that earns 5% simple interest. compare theaccount balances after 2 years.

Mar 11th, 2015

betty = 200+5% of 200 = 200+ 10=210 

          210+5% of 210= 210+ 10.5

          = 220.5

mike = 200*5%*2 = 200*5/100*2 =20

          = 200+20

         =220

betty earns more

Mar 11th, 2015

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