Question
Ok so i honestly have no idea what this is so if you could help me out it would be great!!
Matthew will deposit $500 into an account earning 6.25% simple interest. Bodie will deposit $450 into an account earning 6.5% Compound interest. WHO has more money after 3 years?
A. Matthew has $50 more
B. Bodie has $43 more
C. Matthew has $93 more
D. Bodie has $450 more
Matthew will deposit $500 into an account earning 6.25% simple interest. Bodie will deposit $450 into an account earning 6.5% Compound interest. WHO has more money after 3 years?
A. Matthew has $50 more
B. Bodie has $43 more
C. Matthew has $93 more
D. Bodie has $450 more
Answers
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