Two bank accounts open on the same day with original deposits of $575. The first account earns 5% simple interest. The second account earns 5% interest compounded annually. After one year what will be the balance of each account? Which account will have a greater balance after one year?

szdxfcgvhbjn

step-by-step explanation:

it's both, now can you answer my most recent question?

12

step-by-step explanation:

this is the formula: v = the value of investment at the end of the time period

p = the principal amount (the initial amount invested)

r = the annual interest rate

n = the annual frequency of compounding (how many times a year interest is added)

t = the number of years the money is invested

^ means raise to the power of