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Step 2 : Investing in a bank You are investing the remaining of your money in a bank with a percent rate of 2 .
Step : Investing in a bank
You are investing the remaining of your money in a bank with a percent rate of over a period of
years. You are trying out two the options below:
What is the remainder of the money from $
Option A: Investing the money using simple interest
a What is the interest amount?
b What is the future balance amount
Option B: Investing the money using compounded interest. What is the total amount when you invest
the money?
a Annually?
b Monthly?
c Which parts ab would you choose?
Which is a best option to invest the money Option A or Option B Why?
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