(c) ACE SIMPLE COOL COMPOUND Simple interest at 2.1% per year Compound interest at 2% per year Pietro invests $3500 in the Ace Simple account for 4 years. Eliana invests $3500 in the Cool Compound account for 4 years. At the end of the 4 years, who has more money in their account and by how much?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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3
(c)
ACE SIMPLE
COOL COMPOUND
Simple interest at
2.1% per year
Compound interest at
2% per year
Pietro invests $3500 in the Ace Simple account for 4 years.
Eliana invests S3500 in the Cool Compound account for 4 years.
At the end of the 4 years, who has more money in their account and by how much?
103
1280
29400
Transcribed Image Text:3 (c) ACE SIMPLE COOL COMPOUND Simple interest at 2.1% per year Compound interest at 2% per year Pietro invests $3500 in the Ace Simple account for 4 years. Eliana invests S3500 in the Cool Compound account for 4 years. At the end of the 4 years, who has more money in their account and by how much? 103 1280 29400
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