Question

Harrison and Sherrie are making decisions on their bank accounts. Harrison wants to put more money in as a principle amount because the more you start with, the more interest you will gain. Sherrie wants to put the original money in an account with a higher interest rate. Explain which method will result in more money.

Answer 1

Sherrie wants to put the original money in an account with a higher interest rate. Explain which method will result in more money.

Answer: In this case I would say that both Sherrie and Harrison are good methods that will result in more money. As to find out which idea would make the most bang for the buck we would need actual data like interest rates.

I hope it helps, Regards.

Answer 2

I think the one that would get more money would be Harrison's method

The different in interest rate between two place is probably only between 3-5 % at most. If we put more money as a principle amount, we will generate more interest in the future

hope this helps