Question

A
16. You want to invest 8,000 for 3 years.
Which account should you choose?
A. Account A earns 4% simple interest per year.

B. Account B earns 4% interest compounded
annually.​

Answer 1

Answer:

A. you want tobinvest 8000 for 3 years

Answer 2

Answer:

You should choose B.

Step-by-step explanation:

Compound interest has always more amount of interest than simple interest.

The amount you will get from simple interest is ₹8,960 and from compound interest is ₹8,998.912. There isn't much difference.