scott has $4800 that he wants to invest for 3 years. He can invest this amount a

Question

scott has $4800 that he wants to invest for 3 years. He can invest this amount at his credit union and earn 4 percent simple interest. Or, he can open an account at Trust Bank and earn 3.65 percent interest, compounded annually. If he decides to invest at Trust Bank for 3 years, he will: a. earn $15.02 more than if he had invested with his credit union b. earn $30.98 less than if he had invested with his credit union c. earn the same amount as if he had invested with his credit union d. have a total balance of $4992 in his account after one year e. have a total balance of $4876 in his account after one year those are my choices

Explanation / Answer

Have a total balance of $4876 in his account after one year is the correct option. Please check the value should be 4975 and not 4875. Thanks, Aman

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