Mathematics, 26.03.2021 21:00, babyari18

Jameson and Quincy each deposit $7,000 into accounts that earn 6% interest, but Jameson earns annual simple interest while Quincy earns annual compound interest. Assuming neither one of them
makes any deposits or withdrawals for 60 months, which of the following is a true statement?
A. Jameson will have about $2,100 more in his account than Quincy.
B. Jameson will have about $9,367.58 less in his account than Quincy.
C. Jameson will have about $267.58 less in his account than Quincy.
D. Jameson will have about $2,367.58 more in his account than Quincy.

Answers: 2

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Jameson and Quincy each deposit $7,000 into accounts that earn 6% interest, but Jameson earns annua...