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S Class... D2L Modu... Consumer Mathematics Calculating and comparing simple interest and compound interest Lisa deposits $40,000 into an account that pays 6% interest per
S Class... D2L Modu... Consumer Mathematics Calculating and comparing simple interest and compound interest Lisa deposits $40,000 into an account that pays 6% interest per year, compounded annually. Scott deposits $40,000 into an account that also pays 6% per year. But it is simple interest. Year Find the interest Lisa and Scott earn during each of the first three years. Then decide who earns more interest for each year. Assume there are no withdrawals and no additional deposits. First Start.... Second Third Interest Lisa eakas (Interest compounded annually) $0 $0 $ Interest Scott earns (Simple interest) $0 $0 $ Who earns more interest? Lisa earns more. Scott earns more. They earn the same amount. Lisa earns more. Scott earns more. They earn the same amount. Lisa earns more. Scott earns more. They earn the same amount
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