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 5 years, which of the following is a true statement? Jameson will have about $9,367.58 less in his account than Quincy.

Jameson will have about $267.58 less in his account than Quincy.

Jameson will have about $2,367.58 more in his account than Quincy.

Jameson will have about $2,100 more in his account than Quincy.

$267.58

Step-by-step explanation:

Jameson: simple interest

6% =.06    .06 x 5 = .3   .3 x 7000 = 2,100 = interest

6% =.06    .06 x 5 = .3   .3 x 7000 = 2100   2100 + 7000 = 9,100 = total

Quincy: compound interest

6% =.06    .06 x 5 x 1 = .3 x 7000 = 2100

6% =.06    .06 x 5 x 1 = .3 x 7000 = 2100 + 7000 = 9100

.06 x 5 x 1 x 9100 = 2730 + 9100=11830

repeat five times  u would get a interest of 2,367.58

and a total of 9,367.58

the total amounts   9,367.58 - 9,100 = 267.58

the interests 2,367.58 - 2,100. = 267.58

in mathematics, a function is a relationship between two variables such that the value of one of the variables, called the dependent variable, is determined by the value of the other variable, called the independent variable. there is a specific term we use to describe the set of independent variables of a function.

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step-by-step explanation: