Suppose you invest $1500 in a savings bond that pays 10% simple interest per year.  How much total interest will you receive in 5 years?  (2 pts.)

b)  If the interest for the same bond were compounded yearly, how much interest would you receive over the 5 year time period?

Answer rating: 100% (QA)

a With simple interest the interest earned each year is the same and is calculated as a percentage o... View the full answer