Asked by DerpyPegasus33

Huan deposited $850 into a college
savings account earning 4.8% interest
compounded annually. He also deposited
$850 into a second account earning 4.8%
simple interest. He made no additional
deposits. After 10 years, which account earned more interest? How much more?

A The account with compounded interest earned
$1,0004.10 more interest.
B The account with the simple interest earned
$1,004.10 more interest.
C The account with the simple interest earned
$100.41 more interest.
D The account with compounded
interest earned $100.41 more
interest.

I know the answer has to be A or D...but I can't really figure it out. Am I right and if I am show me how to solve this. Thanks in advance!
Answered by MathMate
Didn't you get an answer last time:
http://www.jiskha.com/display.cgi?id=1416267535
Answered by DerpyPegasus33
Oops probably forgot to check it. Thanks MathMate!
Answered by MathMate
No problem!
There are no AI answers yet. The ability to request AI answers is coming soon!