February 19, 2017

Homework Help: Simple & Compounding Interest

Posted by Need Help!!! on Wednesday, April 25, 2012 at 6:12pm.

Suppose Kevin and Jill both deposit $4000 into their personal accounts. If Kevin’s account earns 5% simple interest annually and Jill’s earns 5% interest compounded annually, how much will each account balance show at the end of 5 years? Calculate the difference between each account.

Answer This Question

First Name:
School Subject:

Related Questions

More Related Questions