4. Nicolas has $650 to deposit into two separate accounts.
Nicolas will deposit $350 into Account I, which earns 3.5% simple annual interest
He will deposit $300 into Account II, which earns 3.25%
interest compounded annually
Nicolas will not make any additional deposits or withdrawals for
5 years.
a. Which account had a better return on investment?
b. What is the total amount of money Nicolas will have in both
accounts?
c. What is the difference between the interest earned on the
two accounts?