50 POINTS!!!!!!!! EASY QUESTION

QUESTION 4

If $400 is deposited in an account that pays 4.25% interest, what is the difference in the amount after 2 years between the amount earned if the principal is compounded annually and the amount earned calculated using simple interest?

$0.72

$1.12

$2.54

$3.76
1 points

QUESTION 5

If $1200 is deposited in an account that pays 6.5% interest, what is the difference in the amount after 4 years between the amount earned if the principal is compounded annually and the amount earned calculated using simple interest?

$3.20

$15.12

$23.54

$31.76