Ben is choosing between two savings accounts. Both accounts pay 3% interest. Account X pays compound interest. Account Y pays simple interest. Ben should choose account X because
A) the interest would be tax free.
B) it would pay interest on interest.
C) the interest rate would decrease over time.
D) the interest rate would increase over time.
+4
Answers (2)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Ben is choosing between two savings accounts. Both accounts pay 3% interest. Account X pays compound interest. Account Y pays simple ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Home » Mathematics » Ben is choosing between two savings accounts. Both accounts pay 3% interest. Account X pays compound interest. Account Y pays simple interest. Ben should choose account X because A) the interest would be tax free.