Question

Quincy has saved $2500 so far to buy a new car in 4 years. He can put this amount into an account, that

earns 3.2% simple interest, or another with 3.5% compounded annually. Which method of earning
interest should he choose, simple or compound, and how much more interest will the account earn
using that method?

Answer 1

he should chose compounded annually because he would have and extra 32.12 dollars at the end of the 4 years

Explanation:

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