You are going to invest R5 000 and you have a choice of two bank accounts…. ...
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You are going to invest R5 000 and you have a choice of two bank accounts….
Account 1 is a
simple interest account paying 7% interest per annum.
Account 2 is a
compound interest account paying 5% interest per annum.
If you are to withdraw your money after 6 years, which account would have the most money?
0%
100%