I = Prnwhere I is the interest, P is the principal, r is the decimal equivalent of the given rate, and n is the number of years. In this item, we assume that n is equal to 1. Solving for the interests, $200: I = ($200)(0.03)(1) = $6 $150: I = ($150)(0.03)(1) = $4.5The difference between the two calculated interests is $1.5. Therefore, you could have earned $1.5 more if you invested $200 rather than $150. hope this helps (^>^)
