When I count as a principal of $1000 and earns 4% simple interest per year and other account as a principal $1000 and earns 4% interest compounded annually which account has the greater balance at the end of four years

the account that earned compound interest has the greater balance at the end of four years.

Step-by-step explanation:

The formula for determining simple interest is expressed as

I = PRT/100

Where

I represents interest paid on the amount invested.

P represents the principal or amount invested.

R represents interest rate

T represents the duration of the investment in years.

From the information given,

P = 1000

R = 4%

T = 4 years

I = (1000 × 4 × 4)/100 = 160

Total amount earned is

1000 + 160 = $1160

The formula for determining compound interest is expressed as

A = P(1+r/n)^nt

Where

A = total amount in the account at the end of t years

r represents the interest rate.

n represents the periodic interval at which it was compounded.

P represents the principal or initial amount deposited

From the information given,

P = 1000

r = 4% = 4/100 = 0.04

n = 1 because it was compounded once in a year.

t = 4 years

Therefore,.

A = 1000(1+0.04/1)^1 × 4

A = 1000(1.04)^4

A = $1170

-1, -2, -3, -4, -6

step-by-step explanation:

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