Question

i may go bankrupt please HELP MEEE

Answer 1

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

Answer 2

no

Answer 3

Um... I'm really not sure XD I guess it depends on the amount of money and the amount of interest. I'm really not sure how to solve this.

Answer 4

@Mehek14

Answer 5

Well, the way I look at it is if you put $100 in the bank at 10% interest you make $10. If you put $1000 in the bank at 1% you get $10. So I guess the higher interest rate.

Answer 6

The ratio of money earned to interest to principal seems to be higher with the higher interest rate.

Answer 7

I think Peggy...

Answer 8

@rebeccaxhawaii I already answered this

Answer 9

Long time ago

Answer 10

yeah but i still didnt understand and three weeks later i am here procrastinating and i need to get it done @ShadowLegendX

Answer 11

"higher interest"

Answer 12

I think before going to bank Peggy studied about compound interest.

Answer 13

The question is vague. I don't see enough information to make a conclusion.

Regardless, check out the work of @Callisto at this link:

http://openstudy.com/study#/updates/52c2352fe4b0fef2cb9f53a2

Answer 14

oh my gawd thats a lot to take in

but thanks @Directrix

Answer 15

You're right about that. You are welcome.