MEDAL!!

Harrison and Sherrie are making decisions on their bank accounts. Harrison wants to put more money in as a principle amount because the more you start with, the more interest you will gain. Sherrie wants to put the original money in an account with a higher interest rate. Explain which method will result in more money.

Question

MEDAL!!

Harrison and Sherrie are making decisions on their bank accounts. Harrison wants to put more money in as a principle amount because the more you start with, the more interest you will gain. Sherrie wants to put the original money in an account with a higher interest rate. Explain which method will result in more money.

studygurl14 · Answer

Is there more information to go with this, like a graph or table showing their principal values and interest rates?

anonymous · Answer

@StudyGurl14 nope :( it's just one question by itself.

phi · Answer

This sounds dubious.  Why not do both?  i.e. put more money in an account with more interest?

phi · Answer

One  obvious answer is you don't have "more money" to invest.

studygurl14 · Answer

There really isn't any way to solve this except try to plug in different principals and interest rates to see for yourself.

anonymous · Answer

alright. thank you both. idk who to give the medal to lol