Question

Juan will deposit $1.250 in an account that earns 3% simple interest every year. His brother Pedro will deposit $1,000 in an account that earns 5% 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 The deposits will be made on the same day, and no additional money will be deposited or withdrawn from the accounts.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
Juan account and Pedro account at the end of 4 years is true?
A) Juan's account will have about $184.49 more than Pedro's account.
B) Juan's account will have about $1065,51 more than Pedro's account.
c) Pedro's account will have about $1065.51 more than Juan's account
D) Pedro's account will have about $184.49 more than Juan's account.

Answer 1

Well if you do the math correctly the answer goes out to A)