Mathematics, 01.12.2020 07:20, marianasanin2007

Rob has $2,000.00 to invest for 3 years. He can choose either simple interest at 11.2% interest, or compound interest at 5.6% interest, compounded annually. Which is the better investment?
A.
A compound interest investment would be better, because Rob would earn $355.17 in compound interest.

B.
A compound interest investment would be better, because Rob would earn $672.00 in compound interest.

C.
A simple interest investment would be better, because Rob would earn $672.00 in simple interest.

D.
A simple interest investment would be better, because Rob would earn $355.17 in simple interest.

Answers: 1

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Rob has $2,000.00 to invest for 3 years. He can choose either simple interest at 11.2% interest, or...