Lat math question for some days. Can y'all help?

Huan deposited $850 into a college
savings account earning 4.8% interest
compounded annually. He also deposited
$850 into a second account earning 4.8%
simple interest. He made no additional
deposits. After 10 years, which account earned more interest? How much more?

A The account with compounded interest earned
$1,0004.10 more interest.
B The account with the simple interest earned
$1,004.10 more interest.
C The account with the simple interest earned
$100.41 more interest.
D The account with compounded
interest earned $100.41 more
interest.

I know the answer has to be A or D...but I can't really figure it out. Am I right and if I am show me how to solve this. Thanks in advance!

  1. 👍 0
  2. 👎 0
  3. 👁 975
  1. Didn't you get an answer last time:
    http://www.jiskha.com/display.cgi?id=1416267535

    1. 👍 0
    2. 👎 0
  2. Oops probably forgot to check it. Thanks MathMate!

    1. 👍 0
    2. 👎 0
  3. No problem!

    1. 👍 0
    2. 👎 0

Respond to this Question

First Name

Your Response

Similar Questions

  1. Business Math

    Lee Holmes deposited $ 15,000 in a new savings account at 9% interest compounded semiannually, At the beginning of year 4, Lee deposites an additional $40000 at 9% interest compounded semiannually. At the end of the 6 years what

  2. Business Math

    Shelley Katz deposited $30,000 in a savings account at 5% interest compounded semiannually. At the beginning of year 4, Shelley deposits an additional $80,000 at 5% interest compounded semiannually. At the end of 6 years, what is

  3. Math

    Lee Holmes deposited $15,000 in a new savings account at 9% interest compounded semiannually. At the beginning of year 4, Lee deposits an additional $40,000 at 9% intrest compounded semiannually. At the end of 6 years, what is the

  4. Math

    1. When their child was born, Elaine and Mike Porter deposited $5,000 in a savings account. The money ears interest at 6 percent compounded quarterly. How much will the account be worth when their child celebrates her second

  1. magh

    suppose you put money into teo different bank accounts. In account #1 you deposit $500 and you will be earning 6% interest compounded quarterly. in account #2 you deposit $600 and you will be earning 5% interest compounded

  2. business math

    Asia Desai deposited $6,000 in a savings account that pays 5.5 percent interest compounded daily. How much interest did she earn in 21 day

  3. Algebra( check my answers)

    1. Juan deposited $200 in a savings account earning 3% interest over 2 years. What was the total amount of interest earned after 2 years? $12 $24 $120 ( my answer) $240 2. Mary borrowed $11,000 at 5% interest for 4 years. What was

  4. Finance

    . On the day that you were born, your grandfather opened a savings account in your name. At that time, he deposited a certain amount of money into the account, and has deposited the same amount on each of your first 20 birthdays.

  1. Math

    Brody deposited $500 into an account that earns 4.2% interest compounded annually. He makes no additional deposits and no withdrawals. Approximately how much interest will the account have earned after 7 years? A $167 B $420 C

  2. Math

    Lamar has received $2,000 each year for college from his grandmother for the four years that he was in high school. He has deposited the money on the same day each year in an account that pays 8% interest, compounded annually. How

  3. Math

    Roman saves $500 each year in an account earning interest at an annual rate of 4% compounded annually. How much interest will the account earn at the END OF THE FIRST THREE YEARS? I think I am confusing simple and compounded

  4. finance

    What is the future value of $700 deposited for one year earning a 8% interest rate annually

You can view more similar questions or ask a new question.