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?

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Unanswered
Tags
Categories
Ask a Question

asked Jul 19, 2022 1.4k views

0 votes

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

History
middle-school

RTBarnard asked

by RTBarnard

7.5k points

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

2 Answers

3 votes

D! Interests rate would increase over time!

Eferion answered Jul 22, 2022

by Eferion

7.4k points

0 Comments

Please log in or register to add a comment.

5 votes

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

8.4k points

0 Comments

Please log in or register to add a comment.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

8.1m questions

10.8m answers

0 Comments

Please log in or register to add a comment.

Please log in or register to answer this question.

2 Answers

0 Comments

Please log in or register to add a comment.

0 Comments

Please log in or register to add a comment.

Other Questions