Answered

IDNLearn.com offers expert insights and community wisdom to answer your queries. Get prompt and accurate answers to your questions from our experts who are always ready to help.

If I'm investing 5,000 and can invest for 2 years or 3 years at 1.75% and 1.25% interest rates respectively which earns more interest

Sagot :

Answer:

By calculating the simple interest for both scenarios, it's determined that the 3-year investment at a 1.25% interest rate earns more interest ($187.50) compared to the 2-year investment at a 1.75% interest rate ($175).

Thank you for using this platform to share and learn. Don't hesitate to keep asking and answering. We value every contribution you make. Discover insightful answers at IDNLearn.com. We appreciate your visit and look forward to assisting you again.