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Brandon plans to invest $2350 in a savings account. Savings account 1 earns 5% simple interest and savings account 2 earns 5% interest compounded quarterly. If he plans to deposit the $2350 and leave it in the account for 3 years, in which savings account would he earn more interest?

Algebra
William_P

William_P - 01.02.2016 23:21Brandon plans to invest $2350 in a savings account. Savings account 1 earns 5% simple interest and savings account 2 earns 5% interest compounded quarterly. If he plans to deposit the $2350 and leave it in the account for 3 years, in which savings account would he earn more interest?

Dominic_BR - 01.02.2016 23:31Greetings All the required information's are already given in the question Based on them the answer can be easily determined. I can explain this question to you for a little fee.

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