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Alice is going to invest some money for 5 years.
She can choose from two options:
Investment A: 2.7% compound interest per annum
Investment B: 2.8% simple interest per annum
Which investment should Alice choose​

Answer :

MHANIFAGO

Answer:

  • Option A

Step-by-step explanation:

Let the amount be P

Compound interest:

  • P*(1 + 0.027)^5 = P*1.1425 rounded

Simple interest:

  • P*(1 + 0.028*5) = P*1.14

Alice should choose compound interest, Option A

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