battledawn96 battledawn96

31-05-2024
Mathematics

Answered

You are given a choice of taking the simple interest on $100,000 invested for 5 years at a rate of 2% or the interest on $100,000 invested for 5 years at an interest rate of 2% compounded monthly. Which investment earns the greater amount of interest? Give the difference between the amounts of interest earned by the two investments.

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