compare simple interest at 3% and compound interest at 2% with interest being compounded monthly when $750 is invested for 1 year to determine which interest earning type offers more financial gains.
a compound interest at 2% offers more financial gains
b simple interest at 3% offers more financial gains
c both simple interest at 3% and compound interest at 2% with interest being compounded monthly offer the same amount of financial gain after 1 year of investment
d There is not enough information to determine which interest earning type offers more financial gains