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$500 invested for three years at 5% annual interest
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07 Dec 2021, 11:11
07 Dec 2021, 11:11
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Question Stats:
43% (00:36) correct
56% (00:45) wrong based on 60 sessions
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Quantity A |
Quantity B |
$500 invested for three years at 5% annual interest |
$575 |
A)The quantity in Column A is greater.
B)The quantity in Column B is greater.
C)The two quantities are equal.
D)The relationship cannot be determined from the information given.
Kudos for the right answer and explanation
Re: $500 invested for three years at 5% annual interest
[#permalink]
07 Dec 2021, 17:12
07 Dec 2021, 17:12
A is greater
Re: $500 invested for three years at 5% annual interest
[#permalink]
08 Dec 2021, 23:41
08 Dec 2021, 23:41
1
Shoudn't the answer be D?
If the interest is compounded annually, then A is greater, but if it is simple interest, then both are equal
If the interest is compounded annually, then A is greater, but if it is simple interest, then both are equal
