candymejia85 candymejia85

01-07-2024
Mathematics

Answered

If I'm investing 5,000 and can invest for 2 years or 3 years at 1.75% and 1.25% interest rates respectively which earns more interest

Answer :

01-07-2024

Answer:

By calculating the simple interest for both scenarios, it's determined that the 3-year investment at a 1.25% interest rate earns more interest ($187.50) compared to the 2-year investment at a 1.75% interest rate ($175).

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