Question

PLS HELP WILL GIVE BRAINY THINGY TO CORRECT ANSWER PLUS 100 POINTS!!!

Toby is choosing a bank account.
He wants to invest his money for 5 years.

Account 1: 7.2% interest paid at the end of 5 years.
Account 2: 1.49% compound interest, paid annually.
Account 3: 1.9% simple interest on the starting amount, paid annually.

How much interest will Toby earn on £1000 with each account?
Round your answers to the nearest penny.
Write down which account Toby should choose in the comment box.
Account 1: £
Account 2: £
Account 3: £

Answer 1

Account 1: £720, account 2: £1227.38, account 3: £950.

Explanation:

I hope this helps! Have a great rest of your day!