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28 If you have a choice to earn simple interest on $5,000 for five years at 11% annually or compound interest at 10.25% annually for
28 If you have a choice to earn simple interest on $5,000 for five years at 11% annually or compound interest at 10.25% annually for five years, which one will pay more and by how much? Simple interest by $394.47. O Compound interest by $178.15. O Compound interest by $461.46. O Compound interest by $394.47. None of these is correct. What annual rate of return is earned on a $3,000 investment when it grows to $6,500 in eight years? O 16.72% 10.15% O None of these are correct. O 8.97% O 6.66%
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