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What is Mike needs help in choosing whether he should invest 650 at 4.9 percent for one year or 500 at 5.0 percent interest for one year What is the difference in the amount of interest Mike could ear?
Wiki User
∙ 12y ago
Interest on 650 @ 4.9% = 650*4.9/100 = 31.85
Interest on 500 @ 5.0% = 500*5.0/100 = 25.00
So the 650 at 4.9% is clearly better.
Wiki User
∙ 12y ago
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