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Vincen
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A bank account earned \(2\%\) annual interest, compounded daily, for as long as the balance was under \(\$1,000,\) starting when the account was opened. Once the balance reached \(\$1,000,\) the account earned \(2.5\%\) annual interest, compounded daily until the account was closed. No deposits or withdrawals were made. Was the total amount of interest earned at the \(2\%\) rate greater than the total amount earned at the \(2.5\%\) rate?
(1) The account earned exactly \(\$25\) in interest at the \(2.5\%\) rate.
(2) The account was open for exactly three years.
Answer: C
Source: Official Guide
(1) The account earned exactly \(\$25\) in interest at the \(2.5\%\) rate.
(2) The account was open for exactly three years.
Answer: C
Source: Official Guide
