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

Mathematics
Tutor: None Selected Time limit: 0 Hours

betty deposits $200 into an account that earns 5% interest compounded annually. mike deposits the same amount into an account that earns 5% simple interest. compare the account 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

Studypool's Notebank makes it easy to buy and sell old notes, study guides, reviews, etc.
Click to visit
The Notebank
...
Mar 11th, 2015
...
Mar 11th, 2015
Dec 5th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer