To determine which account will earn Rohan the most interest, we can calculate the interest earned for each account over a given period of time.
For Bank A's simple interest account:
Interest = Principal * Rate * Time
Interest = $100 * 5% * 1 year
Interest = $100 * 0.05
Interest = $5
For Bank A's compound interest account:
Interest = Principal * (1 + Rate)^Time - Principal
Interest = $100 * (1 + 0.048)^1 - $100
Interest = $100 * 1.048 - $100
Interest = $104.8 - $100
Interest = $4.8
For Bank B's simple interest account:
Interest = Principal * Rate * Time
Interest = $100 * 33% * 1 year
Interest = $100 * 0.33
Interest = $33
For Bank B's compound interest account:
Interest = Principal * (1 + Rate)^Time - Principal
Interest = $100 * (1 + 0.04)^1 - $100
Interest = $100 * 1.04 - $100
Interest = $104 - $100
Interest = $4
Therefore, Rohan should choose Bank B's simple interest account in order to earn the most interest, which is $33.