Monday
August 31, 2015

Homework Help: Simple & Compounding Interest

Posted by Need Help!!! on Friday, April 27, 2012 at 10:32am.

I am SO STUCK on this problem... PLEASE HELP ASAP!!!
Suppose Kevin and Jill both deposit $4000 into their personal accounts. If Kevinís account earns 5% simple interest annually and Jillís 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:
Answer:

Related Questions

More Related Questions

Members