XYZ just deposited $3,500 in an account that will earn 6.2 percent per year in compound interest for 8 years. If Jelena deposits $4,000 in an account in 2 years that earns simple interest, then how much simple interest per year must Jelena earn to have the same amount of money in 8 years from today as XYZ will have in 8 years from today? a.5.20% (plus or minus.o2 percentage points) b.5.97% (plus or minus .02 percentage points) 6.6.93% (plus or minus .02 percentage points) d. 7.92% (plus or minus .02 percentage points) e. None of the above is within .02 percentage points of the correct answer
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