Asked by johnnie
What would be a better deal: depositing money at simple interest of 5% for 20 years, or 10% for 10 years
Answers
Answered by
Ms. Sue
I = PRT
I = 100 * 0.05 * 20
I = 100
I = 100 * 0.1 * 10
I = 100
Obviously, the second is more lucrative.
I = 100 * 0.05 * 20
I = 100
I = 100 * 0.1 * 10
I = 100
Obviously, the second is more lucrative.
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