If $1 is invested over a 10-year period, then the balance A after t years is given

Question:

If $1 is invested over a 10-year period, then the balance A after t years is given by either A = 1 + 0.06 [t] or A = [1 + (0.055/365)][365t] depending on whether the interest is simple interest at 6% or at 5 1/2% compounded daily. Use a graphing utility to graph each function in the same viewing window. Which grows at a greater rate?
Compound Interest
Compound interest (or compounding interest) is interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods on a deposit or loan. Thought to have originated in 17th century Italy, compound...