67.6k views
3 votes
Anastasia was trying to decide which investment plan would be best over 10 years. Bank A was offering 8.5% simple interest on her money using the formula I = P r t. Bank B was offering 8% compounded annually using the formula A = P (1 + r) Superscript t. Which bank is a better investment if she has $2,000 to invest for 10 years?

User Paul Suart
by
9.0k points

1 Answer

7 votes

Answer:

8$ is the answer so chose that one

User Nick Husher
by
8.6k points