Otis has saved $18,500 so far to buy a house. He can put this amount into an
account that earns 5.1% simple interest,
or another with 5.1% compounded
annually. Which method of earning
interest should he choose, simple or
compound, and how much more interest
will the account earn using that method
after 4 years? (8.1A, 8.1B, 8.10, 8.1G)
Compound interest; $15,106.30
G Simple interest; $15,106.30
H Simple interest; $298.65
Compound interest; $298.65
F