Patrick and Brooklyn are making decisions on their bank accounts. Patrick wants to put money in an account that has a higher interest rate but only gains interest for a short period of time. Brooklyn wants to put the money in an account with a lower interest rate, but it gains interest for a longer period of time. Explain which method will result in more money. (10 points)

Question

compassionate · Answer

Long-term. Short-term interest rates can gain you short cash quickly, but low interest rates with high times often lead to greater financial stability