If You Have a Choice to Earn Simple Interest on $10,000

question 39

Multiple Choice

If you have a choice to earn simple interest on $10,000 for three years at 8% or compound interest at 7.5% for three years which one will pay more and by how much?

• A) Simple interest by $1,500.
• B) Compound interest by $22.97.
• C) Compound interest by $150.75.
• D) Simple interest by $150.00.

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Definitions:

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