Sheldon invests $15,000 in an account earning 3% interest, compounded annually for 12 years. seven years after sheldon's initial investment, howard invests $15,000 in an account earning 6% interest, compounded annually for 5 years. given that no additional deposits are made, compare the balances of the two accounts after the interest period ends for each account. (round to the nearest dollar)

the answer is 200

step-by-step explanation:

the way the question is worded, it seems to imply the $264 interest is simple interest, not compound interest.

the simple interest for 2 years is $264; the simple interest for 1 year is $132.

$132 interest on a $600 investment means an interest rate of (132/600)*100 = 22%.

the value of $200 at 22% interest compounded annually for three years is

200%281.22%29%5e3

the amount of interest is that value, minus the original $200.

b

step-by-step explanation: