If you invested $500 at 5% simple interest for 2 years, how much interest do you earn? show work and answer in complete sentences to earn full credit.

if you invest $500 at 3% compounded monthly for 2 years, how much interest you do earn? show work and answer in complete sentences to earn full credit.

which would you rather do?

Therefore I earn $50 interest

Therefore I earn $30.88 interest.

I would do the first one.

Step-by-step explanation:

A.

Given , I invested $500 at 5% simple interest for 2 years.

P=$500,  r =5% and t = 2 years

                   =$50

Therefore I earn $50 interest.

B.

Given , I invested $500 at 3% compounded monthly for 2 years.

P=$500,  r =3% = 0.03 and t = 2 years

                   =$530.88

Interest = $(530.88-530) = $30.88

I would do the first one.

could you reply to this with the question so i can ?

20%

step-by-step explanation: