Chemistry, 09.04.2020 10:46 jaleelbrown80

Melissa has $1,000.00 to invest for 5 years. She can choose either simple interest at 6% interest, or compound interest at 12% interest, compounded annually.

Which is the better investment?
A.
A simple interest investment would be better, because Melissa would earn $762.34 in simple interest.

B.
A compound interest investment would be better, because Melissa would earn $762.34 in compound interest.

C.
A simple interest investment would be better, because Melissa would earn $300.00 in simple interest.

D.
A compound interest investment would be better, because Melissa would earn $300.00 in compound interest.

Answers: 1

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