Robin invested $10,000 in an account that pays 5% simple interest. How much more could she have earned over a 40-year period if the interest had compounded annually?
A) $38,207.16
B) $38,414.14
C) $40,399.89
D) $48,414.14
E) $50,399.89

Question

Quizplus · Accepted Answer

The Answer of Robin invested $10,000 in an account that pays 5% simple interest. How much more could she have earned over a 40-year period if the interest had compounded annually?
A) $38,207.16
B) $38,414.14
C) $40,399.89
D) $48,414.14
E) $50,399.89

Robin Invested $10,000 in an Account That Pays 5% Simple