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Huan deposited $850 into a college

savings account earning 4.8% interest
compounded annually. He also deposited
$850 into a second account earning 4.8%
simple interest. He made no additional
deposits. After 10 years, which account earned more interest? How much more?

A The account with compounded interest earned
$1,0004.10 more interest.
B The account with the simple interest earned
$1,004.10 more interest.
C The account with the simple interest earned
$100.41 more interest.
D The account with compounded
interest earned $100.41 more
interest.

I know the answer has to be A or D...but I can't really figure it out. Am I right and if I am show me how to solve this. Thanks in advance!

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3 answers
  1. Didn't you get an answer last time:
    http://www.jiskha.com/display.cgi?id=1416267535

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  2. Oops probably forgot to check it. Thanks MathMate!

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  3. No problem!

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