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If you had $500 to put into a savings account with 8% interest , how would you know which bank to choose, if you plan to withdraw everything after 10 years—one that pays simple …

If you had $500 to put into a savings account with 8% interest , how would you know which bank to choose, if you plan to withdraw everything after 10 years—one that pays simple …
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5 votes
If you had $500 to put into a savings account with 8% interest , how would you know which bank to choose, if you plan to withdraw everything after 10 years—one that pays simple interest or compound interest? Explain.

asked
User Rye
by
8.3k points

1 Answer

5 votes

Answer:

Compound interest because you earn more over time

Explanation:

answered
User Swelet
by
7.9k points
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