You are given a choice of taking the simple interest on $10,000 invested for 2 years at a rate of 3% or the interest on $100,000 invested for 2 years at an interest rate of 3% compounded daily (use the banker's rule ).
which investment earns the greater amount of interest?
give the difference between the amounts of interest earned by the two investments.

Compount interest earns more. Difference between 2 interest is $92 445.39

Step-by-step explanation:

Simple Interest:

p = $10000

r = 3%

t = 2years

I = (10000×3×2)/100

= $600

Total amount = $10 600

Compound Interest:

p = $100000

r = 3/730 (daily)

t = 730 (2yrs)

A = 100000[1+(3/73000)]^730

= $103 045.39 (2d.p)

Difference = $103045.39 -

$10600

= $92 445.39

(Correct me if i am wrong)

54

step-by-step explanation:

120 seems like the most sensible answer.

step-by-step explanation:

if there is only one topping on all caramel apples and there's 120 of them. then all apples should/will be covered in sprinkles. make sense?