Jbricj1658 Jbricj1658

16-01-2023
Mathematics

contestada

Simple and compound interest

1.mr. henry received his back pay from a work abroad and wanted to quit as an ofw. he received p150 000.00. he plans to invest it for 5 years. an abc bank offers him with 2% simple interest rate per year while the union bank offers him 2% compounded annually.

1. make an illustration of simple and compound interest

2.if you were mr. henry which offer will you choose and why?

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