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Anastasia was trying to decide which investment plan would be best over 10 years. Bank A was offering 8.5% simple interest on her money using the formula mc011-1.jpg. Bank B was offering 8% compounded annually using the formula mc011-2.jpg. Which bank is a better investment if she has $2,000 to invest for 10 years?

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bethniebell

Answer:

Bank B is the better investment. In 10 years, her $2,000 will grow to $4,317.85, and with bank A, her $2,000 will grow to $3,700.

Step-by-step explanation:


yikesbruhoof

Answer:

Bank B is the better investment.

Step-by-step explanation:

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