EgmatQuantExpert wrote:
James invested $ 5000 in scheme A for 1 year at a simple annual interest rate of 5% and invested another $10000 in scheme B for one year at an annual interest rate of 10% compounded semi-annually. What is the positive difference between the interest earned by James from scheme A and scheme B?
- A. $250
B.$775
C.$1025
D. $1750
E.$2000
Scheme A Interest = 5% of $5,000 =$250
Scheme B 10% interest compounded semi-annually means that the interest is compounded 2 times (in 1 year) at a rate of
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