SOLUTION: Preston received a paycheck for $900.00 and he wants to invest it in a savings account. A savings account at bank A earns 4% interest compounded monthly and a savings account at ba
Algebra ->
Statistics
-> Central-limit-theorem
-> SOLUTION: Preston received a paycheck for $900.00 and he wants to invest it in a savings account. A savings account at bank A earns 4% interest compounded monthly and a savings account at ba
Log On
Question 1139135: Preston received a paycheck for $900.00 and he wants to invest it in a savings account. A savings account at bank A earns 4% interest compounded monthly and a savings account at bank B earns 5% simple interest. If Preston plans to deposit the $900.00 and leave it in the account for 3 years, at which bank would he earn more interest? Answer by josmiceli(19441) (Show Source):
You can put this solution on YOUR website! Bank A:
----------------------------
Bank B:
---------------------------
Bank B earns the most interest
check the math
