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Which of the following plans will produce the greater earnings for an investment of $500 over 5 years? ​ Plan A: simple interest rate of 6.75% Plan B: rate of 6.5% compounded an…

Which of the following plans will produce the greater earnings for an investment of $500 over 5 years? ​ Plan A: simple interest rate of 6.75% Plan B: rate of 6.5% compounded an…
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3 votes
Which of the following plans will produce the greater earnings for an investment of $500 over 5 years? ​

Plan A: simple interest rate of 6.75%
Plan B: rate of 6.5% compounded annually

Please help as fast as possible! Tysm <3

asked
User Jaded
by
7.8k points

2 Answers

6 votes

Answer:

plan a

Explanation:

answered
User Alfetopito
by
8.6k points
2 votes
i believe the answer is plan b: rate of 6.5% compounded annually.
answered
User Roaring Stones
by
8.3k points
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