CBA 10 Financial Literacy Review Flashcards

CBA 10 Financial Literacy Review

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Question

Deposit of $3,000. Account X pays 2.1% simple annual interest. Account Y pays 2.4% interest compound. Time is 5 years

Answer

Account Y would earn Monica about $62.70 more interest than Account X.

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Card 1 of 10

CBA 10 Financial Literacy Review

0 / 10

Question

Answer

Account Y would earn Monica about $62.70 more interest than Account X.

Know itStill learning

Card 1 of 10