ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Savastion deposited $500 in an account that earns 6% simple annual interest. Thomas deposited $500 in an account that earns 6% annual interestcompounded annually. They leave themoney in the account for 4 years. Whichstatement is true about the two investments after 4 years?
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Thomas will have $131.24 more in his accountthan Savastion has in his account.
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They will have the sameamount in their accounts.
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Thomas will have $11.24 morein his account than Savastion will have in his account.
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Savastion will have $11.24 more inhis account than Thomas will have in his account.
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Explanation:
There is 1 question to complete.