Multiple Choice
If you have a choice to earn simple interest on $20 000 for three years at 9% or annually compounding interest at 8.5% for three years which one will pay more interest and by how much?
A) Simple interest by $50.00
B) Compound interest by $122.97
C) Compound interest by $145.78
D) Simple interest by $150.00
Correct Answer:
Verified
Correct Answer:
Verified
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