Question

Simple Interest and Compound Interest.Guys I need help with this question.

Answer 1

Answer:

Simple interest at 2.1%

Step-by-step explanation:

If you had $200 to start

Simple would be $200 x 2.1% = $4.2

$4.2x3 years = $12.60

Total money after 3 years $212.60

Compound would be $200 x 2.7% = $5.40 1st year

$205.40 x 1.4% = $2.8756 (2.88 rounded)  2nd year

$208.28 x 1.4% = $2.9159 (2.92 rounded) 3rd year

3 years total = $211.20

$212.60 greater then $211.20