Business, 12.10.2020 19:01 strawberrymochi1078
Homer deposited $3,000 this morning into an account that pays 5 percent interest, compounded annually. Bart also deposited $3,000 this morning at 5 percent interest, compounded annually. At the end of each period, Homer will withdraw his interest earnings and put into a new account that pays 8 percent interest, compounded annually. Given this, which one of the following statements is true?
a. Barb will earn more interest the second year than Andy.
b. Andy will earn more interest in year three than Barb will.
c. Barb will earn more interest the first year than Andy will.
d. Andy will earn compound interest.
e. After five years, Andy and Barb will both have earned the same amount of interest.
Answers: 3
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Homer deposited $3,000 this morning into an account that pays 5 percent interest, compounded annuall...
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