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July 31, 2014

July 31, 2014

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

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.

- Simple & Compounding Interest -
**Writeacher**, Friday, April 27, 2012 at 11:22am

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