If You Have a Choice to Earn Simple Interest on $20

question 10

Multiple Choice

If you have a choice to earn simple interest on $20 000 for three years at 9% or annually compounding interest at 8.5% for three years which one will pay more interest and by how much?

• A)Simple interest by $50.00
• B)Compound interest by $122.97
• C)Compound interest by $145.78
• D)Simple interest by $150.00

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Definitions:

Infant Mortality

The rate at which infants die before reaching their first birthday, often used as a key indicator of a country's health status and quality of its healthcare system.

Intersex

A term describing individuals born with biological sex characteristics (such as chromosomes, genitalia, and hormone levels) that do not fit typical definitions for male or female categories.

Sex Assignment Surgery

Medical procedures conducted to physically alter a person’s birth gender to reflect their gender identity or correct intersex conditions.