Question

A bank offers two interest account plans. Plan A gives you 6% interest compounded annually. Plan B gives you 13% annual simple interest. You plan to invest $2,000 for the next 4 years. Which account earns you the most interest (in dollars) after 4 years? How much will you have earned?

A. Plan A; $524.95
B. Plan B; $524.95
C. Plan B; $1,040.00
D. Plan A; $1,040.00

Answer 1

HELP

Answer 2

C

Answer 3

thanks

Answer 4

Calculate how much interest
Compound is interest=principle x rate*time
Simple is I=prt

Answer 5

Can you give me a best response