Answer: 2/3
Hope this helps you
Answer:
$1950
Step-by-step explanation:
Simple interest amount payable is given by
A=P(1+rt) where p is principal amount, A is final amount paid, t is time and r is rate of interest. For the first case
A=15000(1+0.03*4)=$16800
For second case
A=15000(1+0.05*5)=$18750
Difference will be 18750-16800=$1950
