ECONOMICS
COMPOUND INTEREST
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Rosie will deposit $1, 420 in an account that earns 4% simple interest. Her sister Avery will deposit $1, 400 in an account that earns 6% interest compounded annually. What is the difference in the AMOUNT EARNED over 4 years?
|
|
Rosie will earn $120.27 more than Avery.
|
|
|
Avery will earn $1540.27 more than Rosie.
|
|
|
Rosie will earn $1540.27 more than Avery.
|
|
|
Avery will earn $120.27 more than Rosie.
|
Explanation:
There is 1 question to complete.