Question: Three students each have $1000 to invest from their summer jobs. Armen invests his money in an account that earns simple interest at an APR of 5 percent. Barok invests his money in an account that earns 4.9 percent interest per year compounded annually. Carrie invests her money in an account that earns 4.8 percent interest per year compounded monthly. Find how much money each student has in his or her account after
- 2 years
- 10 years
- 30 years