John and Susan just opened savings accounts at two different banks Each deposited 1 900 John s bank pays simple interest at an

Question

John and Susan just opened savings accounts at two different banks Each deposited 1 900 John s bank pays simple interest at an annual rate of 11 whereas Susan s bank pays compound interest at an annual rate of 10 5 No principal or interest will be taken out of the accounts for a period of five years At the end of five years whose balance will be higher and by how much John s interest earned by 1 900 for five years at 11 simple interest is Round to the nearest dollar

Kunduz · Accepted Answer

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