Asked by Sarah

suppose you put money into teo different bank accounts. In account #1 you deposit $500 and you will be earning 6% interest compounded quarterly. in account #2 you deposit $600 and you will be earning 5% interest compounded annually. Which statement below best describes the relationship between the amount if money in account #1 and account #2 after 10 years have passed. Assume that during these years you will not withdraw any money


PLEASE HELP I DON'T UNDERSTAND
Answered by Steve
well, either

#1 < #2

or

#1 > #2
Answered by Murkle
A:) Account #1 will have approximately $397 less than Account #2.

B:) Account #1 will have approximately $82 more than Account #2.

C:) Account #1 will have approximately $70 less than Account #2.

D:) Account #1 and Account #2 will have approximately the same amount of money in them.

Assuming you have the same choices as me, the answer is:
C:) Account #1 will have approximately $70 less than Account #2.

I got it right.
Answered by dequavis
anser is d
Answered by Bloodhound
Murkle is right, the answer is C.
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