The calculation of simple interest for a $100,000 investment at 6% for 5 years would be A) Less than compound interest B) More than compound
The calculation of simple interest for a $100,000 investment at 6% for 5 years would be
A) Less than compound interest
B) More than compound interest
C) The same under both simple and compound interest since the amount is under $125,000
D) The same under both simple and compound interest since the amount is under $155,000
Step by Step Solution
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Step: 1
SimpleInterestPRT where P is the principal amount the initial investment ...
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Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
