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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.

 Aug 5, 2014

Best Answer 

 #1
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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. 

 Aug 5, 2014
 #1
avatar+118723 
+5
Best Answer

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. 

Melody Aug 5, 2014

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