Mathematics, 22.03.2021 20:20 berankworthy7153
1) Lady Gaga deposits $2000 into a bank account that earns 4% interest each year.
a. Write a formula for the money earned if the b. Write a formula for the money earned if the
account earns simple interest.
account earns compound interest.
c. How much money would Lady Gaga's account
have after 5 years if she earns simple interest?
d. How much money would Lady Gaga's account
have after 5 years if she earns compound
interest?
e. Lady Gaga wants to invest her money for 10 years or more. Should she opt for simple interest or
compound interest? Explain your reasoning.
Answers: 1
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1) Lady Gaga deposits $2000 into a bank account that earns 4% interest each year.
a. Write a formul...
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