Harrison and Sherrie are making decisions on their bank accounts. Harrison wants to put more money in as a principle amount because the more you start with, the more interest you will gain. Sherrie wants to put the original money in an account with a higher interest rate. Explain which method will result in more money.
You are better off to put the original amount in the one with the hight interest rate.
Say you have an original amount of $1000. Is it better to get 3% on this or 5%. The highter percent is better of course. This is assuming that there is not funny little account catches of course.
You are better off to put the original amount in the one with the hight interest rate.
Say you have an original amount of $1000. Is it better to get 3% on this or 5%. The highter percent is better of course. This is assuming that there is not funny little account catches of course.