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Tariq is comparing two banks to decide which one he wants to use for his new saving account. Account one will offer him 5% interest, compounded annually. Account offers 5% simple interest. Which account
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Tariq is comparing two banks to decide which one he wants to use for his new saving account. Account one will offer him 5% interest, compounded annually. Account offers 5% simple interest. Which account will earn more interest?

User Figueroa
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1 Answer

3 votes
I believe it is the first one because it is an exponential growth rate.
User Vahid Kargar
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