Mathematics

Peter Hebert

27 January, 17:06

Mark deposits $12,000 into an account that pays 4% interest, compounded annually, for 5 years. Saul deposits $10,000 into an account that pays 6% interest, compounded annually, for 8 years. Assuming no additional deposits are made, compare the interest earned on the accounts at the end of the interest period for each. (to the nearest dollar)

A) Each account earned the same amount of interest.

B) Mark's account earned $40 more interest than Saul's account.

C) Saul's account earned $3,338 more interest than Mark's account.

D) Saul's account earned $1,339 more interest than Mark's account.