Assume $20,000 is deposited into a savings account. Bedford Bank offers an annual rate of 1% simple interest for five years. Slick Bank offers a rate of 5.1% simple interest for one year. Which earns more interest?
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Home » Mathematics » Assume $20,000 is deposited into a savings account. Bedford Bank offers an annual rate of 1% simple interest for five years. Slick Bank offers a rate of 5.1% simple interest for one year. Which earns more interest?