Darryl plans to deposit $2,000 into a new account that offers an annual interest rate of 3.2%. He will make no additional deposits or withdrawals. Darryl can choose between an account at a bank and an account at a credit union:%0D%0A%0D%0AThe bank compounds the interest annually.%0D%0AThe credit union pays simple interest.%0D%0AWhich statement is true if Darryl leaves his money in the account for 4 years?
After 4 years, Darryl will earn more interest with the bank account that compounds interest annually compared to the credit union account that pays simple interest.
