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Mathematics, 13.11.2020 16:20 genyjoannerubiera
A. You have a choice between depositing your $100 into an account that earns 5% simple interest for 5 years or one that earns 4% compound interest for 5 years, which would you choose? Instructions: Enter your responses as whole numbers. After 5 years, your deposit in the 5% account would be worth $ 525 . After 5 years, your deposit in the 4% account would be worth $ 122 . Therefore, you should choose the account that yields 5% simple interest . B. What if you were depositing your $100 for 15 years? Instructions: Enter your responses as whole numbers. After 15 years, your deposit in the 5% account would be worth $ 1575 . After 15 years, your deposit in the 4% account would be worth $ 180 . Therefore, you should choose neither account .
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