Business, 11.04.2020 04:06 aydanbelle
Lester had $6,270 in his savings account at the beginning of this year. This amount includes both the $6,000 he originally invested at the beginning of last year plus the $270 he earned in interest last year. This year, Lester earned a total of $282.15 in interest even though the interest rate on the account remained constant. This $282.15 is best described as:
A. Compound Intereest
B. Interest on Interest
C. Simple Interest
D. Discounted Interest
E. Complex Interest
Answers: 3
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Lester had $6,270 in his savings account at the beginning of this year. This amount includes both th...
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