Business, 23.10.2019 05:30 aesthetickait
Andy deposited $3,000 this morning into an account that pays 5 percent interest, compounded annually. barb also deposited $3,000 this morning into an account that pays 5 percent interest, compounded annually. andy will withdraw his interest earnings and spend it as soon as possible. barb will reinvest her interest earnings into her account. given this, which one of the following statements is true?
correct answer
barb will earn more interest the second year than andy.
correct answer
andy will earn more interest in year three than barb will.
correct answer
barb will earn more interest the first year than andy will.
correct answer
andy will earn compound interest.
correct answer
after five years, andy and barb will both have earned the same amount of interest.
Answers: 1
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Andy deposited $3,000 this morning into an account that pays 5 percent interest, compounded annually...
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