Simple Interest and Compound Interest.
Guys I need help with this question.
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Answer:
Simple interest at 2.1%
Step-by-step explanation:
If you had $200 to start
Simple would be $200 x 2.1% = $4.2
$4.2x3 years = $12.60
Total money after 3 years $212.60
Compound would be $200 x 2.7% = $5.40 1st year
$205.40 x 1.4% = $2.8756 (2.88 rounded) 2nd year
$208.28 x 1.4% = $2.9159 (2.92 rounded) 3rd year
3 years total = $211.20
$212.60 greater then $211.20