Three people go to the bank to cash in their accounts.Amy had her money in an account for 25 years at 4 percent interest.Bill had his money in an account for 20 years at 5 percent interest.Celia had her money in an account for 5 years at 20 percent interest.If each of them originally deposited 500 dollars in their accounts,which of them gets the most money when they cash in their accounts?

Question

Quizplus · Accepted Answer

Amy's account grows the most due to the power of compound interest over a longer period, despite the lower interest rate.

Three People Go to the Bank to Cash in Their