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Jaxon deposits $600 in an account that earns 2.5% simple interest. Emily deposits $600 in an account that earns 5% interest compounded annually. Who has more money when they close their account at the
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Jaxon deposits $600 in an account that earns 2.5% simple interest. Emily deposits $600 in an account that earns 5% interest compounded annually. Who has more money when they close their account at the end of 3 years?

User Lesbaa
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1 Answer

7 votes

Answer:

Emily has more money

Explanation:

She has more because if you divide the money by the percentage she will end up with more money

User Yooz
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7.9k points
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