Answer
False
Work Step by Step
Compound and simple interest are only the same in the first year; after that, compound is always higher.
Basic College Mathematics (9th Edition)
by Lial, Margaret L.; Salzman, Stanley A.; Hestwood, Diana L.
Published by
Pearson
ISBN 10:
0321825535
ISBN 13:
978-0-32182-553-7
Chapter 6 - Percent - 6.8 Compound Interest - 6.8 Exercises - Page 455: 1
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