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Will you earn more interest in one year by depositing $ 3 0 0 0 in a simple interest account that pays 7 % or
Will you earn more interest in one year by depositing $ in a simple interest account that pays or in an account that pays interest compounded daily? How much more interest will you earn?
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In which account will you earn more interest? Select the correct choice below and fill in the answer box within your choice.
Round to the nearest dollar as needed.
A You will earn $ more interest in the compound interest account than in the simple interest account.
B You will earn: more interest in the simple interest account than in the compound interest account.
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