Chris Has $16,000 That She Wants To Invest For 1 Year.

Chris has $16,000 that she wants to invest for 1 year. She can invest it in Bank X and earn 5. 50 percent simple interest. Or, she can open an account at Bank Y and earn 5. 39 percent interest, compounded monthly. If Chris decides to invest at Bank X, she will: earn $17. 60 more than if she had invested with Bank Y. earn the same amount as if she had invested with Bank Y. have a total balance of $16,800 in her account after 1 year. have a total balance of $16,862. 40 in her account after 1 year. earn $4. 03 less than if she had invested with Bank Y.

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