Beatrice Invests $1,000 in an Account That Pays 4% Simple

question 115

Multiple Choice

Beatrice invests $1,000 in an account that pays 4% simple interest. How much more could she have earned over a five-year period if the interest had compounded annually?

• A) $15.45
• B) $15.97
• C) $16.65
• D) $17.09
• E) $21.67