Question

Suppose you won ₱10,000.00 and you plan to invest it for 5 years. A cooperative group offers 2%
simple interest rate per year while a bank offers 2% compounded annually. Which of the two offers is
better?

Answer 1

Compound interest is better
As u get interest of first year interest on 2 nd year and so on for 5 years.


Simple interest= S.I. = Principal × Rate × Time

Compound interest= Principal (1 + Rate)^Time − Principal amount.

I recommend you should do remaining sum
Pls mark me brianliest or thanks