Question

A.You have deposited $400 in a simple interest savings account, which pays three percent interest annually. Find the amount of interest for zero, 5, 10, 15, and 20 years.
# years. |
$Savings |
You have deposited the other $400 in a savings account, which pays three percent interest compounded quarterly. Find the amount in the account for zero, 5, 10, 15, and 20 years, using the compound interest formula
Fill in the table.
#years
$Savings

Answer 1

Answer:

0 years: $0

5 years: $460

10 years: $520

15 years: $580

20 years: $640