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Kevin invests $800 in an account that earns 5% simple interest. Jeremy invests $600 in an account earning 6% interest compounded annually. Who will have earned more interest after 3 years? How much more?
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Kevin invests $800 in an account that earns 5% simple interest. Jeremy invests $600 in an account earning 6%

interest compounded annually. Who will have earned more interest after 3 years? How much more?
A. Kevin will have earned $5.39 more than Jeremy after 3 years.
B. Jeremy will have earned $5.39 more than Kevin after 3 years.
C. Kevin will have earned $18.10 more than Jeremy after 3 years.
D. Jeremy will have earned $18.10 more than Kevin after 3 years.

User WitVault
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1 Answer

3 votes

Answer:

A

Step-by-step explanation:

User Joao Cenoura
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