Three people go to the bank to cash in their accounts.Amy had her money in an account for 25 years at 4 percent interest.Bill had his money in an account for 20 years at 5 percent interest.Celia had her money in an account for 5 years at 20 percent interest.If each of them originally deposited $500 in their accounts,which of them gets the most money when they cash in their accounts?
A)Amy
B)Bill
C)Celia
D)They each get the same amount.

Question

Quizplus · Accepted Answer

Amy's account grows the most due to the power of compound interest over a longer period, despite the lower interest rate compared to Celia's.

Three People Go to the Bank to Cash in Their