Mathematics, 22.10.2020 02:01 tatibean26
Olivia will deposit $1,530 in an account that earns 6% simple interest every year. Her sister Melinda will deposit $1,500 in an account that earns 8% interest compounded annually. The deposits will be made on the same day, and no additional money will be deposited or withdrawn from the accounts. Which statement about the balances of Olivia's account and Melinda's account at the end of 3 years is true?
*HINT: FIND THE ACCOUNT BALANCE OF BOTH THEN SUBTRACT*
Olivia's account will have about $5.40 more than Melinda's account.
Olivia's account will have about $84.17 more than Melinda's account.
Melinda's account will have about $5.40 more than Olivia's account.
Melinda's account will have about $84.17 more than Olivia's account.
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Olivia will deposit $1,530 in an account that earns 6% simple interest every year. Her sister Melind...
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