Sixty years ago,your grandparents opened two savings accounts and deposited $200 in each account.The first account was with Which Bank at 3 per cent,compounded annually.The second account was with Dragon Bank at 3.5 per cent,compounded annually.Which one of the following statements is true concerning these accounts?
A) The Which Bank account is currently worth $1,201.54.
B) The Which Bank account has earned $211.19 more in interest than the Dragon Bank account.
C) The Dragon Bank account is currently worth $1,526.08.
D) The Dragon Bank account has paid $367.48 more in interest than the Which Bank account.
E) The Dragon Bank account has paid $397.30 more in interest than the Which Bank account.
Correct Answer:
Verified
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