Ben is choosing between 2 savings accounts . Both accounts pay 3% interest. Account X pays compound interest. Account Y pays simple interest Ben should choose account X because?

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asked Jul 19, 2022 1.4k views

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Ben is choosing between 2 savings accounts . Both accounts pay 3% interest. Account X pays compound interest. Account Y pays simple interest Ben should choose account X because?

Ben is choosing between 2 savings accounts . Both accounts pay 3% interest. Account-example-1

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RTBarnard asked

by RTBarnard

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D! Interests rate would increase over time!

Eferion answered Jul 22, 2022

by Eferion

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the answer is D because the rate would increase overtime, means you’d get more money

Neal Richardson answered Jul 26, 2022

by Neal Richardson

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