You are given a choice of taking the simple interest on $100,000invested for 5 years at a rate of 3% or the interest on $100,000 invested for 5 years at an interest rate of 3% compounded quarterly....

You are given a choice of taking the simple interest on $100,000invested for

5 years at a rate of 3% or the interest on $100,000 invested for 5 years at an interest rate of 3% compounded quarterly.

Which investment earns the greater amount of interest? Give the difference between the amounts of interest earned by the two investments.

The investment with _______ interest earns $____ more in interest.

Jun 05, 2022

Get Answer To This Question