One year ago, Lindsey deposited $250 into a savings account. Her balance is now $253. Two years ago, Jenn deposited $250 into a
savings account. Her balance is now $257.50. Which account has the greater simple interest rate? Explain
2 answers:
Answer:
Jenn's account has a greater simple interest rate.
Lindsey's interest in 1 year was $3
Jenn's interest in 2 years was $7.50 if you divide $7.50 by 2 the answer would be 3.75 therefore Jenn's account has the greater simple interest rate.
Answer:
Jenn's account has a greater simple interest rate.
Lindsey's interest in 1 year was $3
Jenn's interest in 2 years was $7.50 if you divide $7.50 by 2 the answer would be 3.75 therefore Jenn's account has the greater simple interest rate.
Step-by-step explanation:
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